First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Large Drop in Short Interest

First Trust Managed Municipal ETF (NASDAQ:FMB) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 16,700 shares, a decline of 9.2% from the July 15th total of 18,400 shares. Based on an average daily volume of 143,600 shares, the short-interest ratio is currently 0.1 days.

First Trust Managed Municipal ETF Trading Up 0.1 %

NASDAQ FMB traded up $0.07 on Tuesday, reaching $51.67. 57,523 shares of the company’s stock traded hands, compared to its average volume of 151,788. The stock has a 50 day moving average price of $51.41 and a 200-day moving average price of $51.25. First Trust Managed Municipal ETF has a fifty-two week low of $48.08 and a fifty-two week high of $52.07.

First Trust Managed Municipal ETF Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 27th were given a $0.137 dividend. The ex-dividend date of this dividend was Thursday, June 27th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Traction Financial Partners LLC raised its position in shares of First Trust Managed Municipal ETF by 83.8% in the second quarter. Traction Financial Partners LLC now owns 28,971 shares of the company’s stock worth $1,494,000 after acquiring an additional 13,211 shares during the period. NewEdge Advisors LLC raised its position in shares of First Trust Managed Municipal ETF by 39.3% in the second quarter. NewEdge Advisors LLC now owns 236,657 shares of the company’s stock worth $12,084,000 after acquiring an additional 66,762 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of First Trust Managed Municipal ETF by 4.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 18,916 shares of the company’s stock worth $966,000 after acquiring an additional 793 shares during the period. GM Advisory Group LLC raised its position in shares of First Trust Managed Municipal ETF by 21.4% in the second quarter. GM Advisory Group LLC now owns 165,632 shares of the company’s stock worth $8,457,000 after acquiring an additional 29,187 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of First Trust Managed Municipal ETF by 14.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 403,320 shares of the company’s stock worth $20,594,000 after purchasing an additional 50,146 shares during the last quarter.

About First Trust Managed Municipal ETF

The First Trust Managed Municipal ETF (FMB) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that invests primarily in investment-grade municipal bonds, with some high-yield exposure. FMB was launched on May 13, 2014 and is managed by First Trust.