First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Significant Decline in Short Interest

First Trust Managed Municipal ETF (NASDAQ:FMB) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 86,700 shares, a drop of 6.2% from the September 15th total of 92,400 shares. Based on an average trading volume of 158,000 shares, the short-interest ratio is currently 0.5 days.

First Trust Managed Municipal ETF Trading Up 0.1 %

FMB traded up $0.05 on Wednesday, hitting $51.80. 107,950 shares of the stock traded hands, compared to its average volume of 154,623. The business has a fifty day moving average price of $51.78 and a two-hundred day moving average price of $51.36. First Trust Managed Municipal ETF has a 52 week low of $48.08 and a 52 week high of $52.13.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently disclosed a dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 26th were paid a $0.139 dividend. This is a boost from First Trust Managed Municipal ETF’s previous dividend of $0.14. The ex-dividend date of this dividend was Thursday, September 26th.

Institutional Trading of First Trust Managed Municipal ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Insight Wealth Strategies LLC grew its position in First Trust Managed Municipal ETF by 3.4% in the first quarter. Insight Wealth Strategies LLC now owns 33,445 shares of the company’s stock valued at $1,718,000 after acquiring an additional 1,097 shares during the period. Weitzel Financial Services Inc. increased its position in shares of First Trust Managed Municipal ETF by 5.1% during the 1st quarter. Weitzel Financial Services Inc. now owns 48,742 shares of the company’s stock worth $2,497,000 after purchasing an additional 2,383 shares in the last quarter. Fragasso Group Inc. increased its position in shares of First Trust Managed Municipal ETF by 48.3% during the 1st quarter. Fragasso Group Inc. now owns 8,900 shares of the company’s stock worth $457,000 after purchasing an additional 2,900 shares in the last quarter. Sebold Capital Management Inc. lifted its holdings in First Trust Managed Municipal ETF by 2.4% during the 1st quarter. Sebold Capital Management Inc. now owns 34,556 shares of the company’s stock valued at $1,775,000 after purchasing an additional 806 shares during the last quarter. Finally, GSG Advisors LLC grew its stake in First Trust Managed Municipal ETF by 38.2% during the first quarter. GSG Advisors LLC now owns 20,286 shares of the company’s stock worth $1,035,000 after buying an additional 5,604 shares during the last quarter.

First Trust Managed Municipal ETF Company Profile

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.