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

First Trust Managed Municipal ETF (NASDAQ:FMB) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 105,400 shares, a growth of 52.8% from the March 31st total of 69,000 shares. Based on an average daily volume of 157,700 shares, the days-to-cover ratio is presently 0.7 days.

Hedge Funds Weigh In On First Trust Managed Municipal ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. RFG Advisory LLC lifted its position in shares of First Trust Managed Municipal ETF by 916.2% during the 4th quarter. RFG Advisory LLC now owns 194,688 shares of the company’s stock valued at $10,058,000 after acquiring an additional 175,530 shares during the last quarter. Stock Yards Bank & Trust Co. lifted its position in shares of First Trust Managed Municipal ETF by 37.7% during the 4th quarter. Stock Yards Bank & Trust Co. now owns 40,557 shares of the company’s stock valued at $2,095,000 after acquiring an additional 11,110 shares during the last quarter. Grant GrossMendelsohn LLC lifted its position in shares of First Trust Managed Municipal ETF by 2.5% during the 4th quarter. Grant GrossMendelsohn LLC now owns 30,646 shares of the company’s stock valued at $1,568,000 after acquiring an additional 745 shares during the last quarter. Frisch Financial Group Inc. lifted its position in shares of First Trust Managed Municipal ETF by 2.4% during the 3rd quarter. Frisch Financial Group Inc. now owns 245,074 shares of the company’s stock valued at $11,979,000 after acquiring an additional 5,650 shares during the last quarter. Finally, Insight Wealth Strategies LLC lifted its position in shares of First Trust Managed Municipal ETF by 6.8% during the 4th quarter. Insight Wealth Strategies LLC now owns 32,348 shares of the company’s stock valued at $1,671,000 after acquiring an additional 2,055 shares during the last quarter.

First Trust Managed Municipal ETF Stock Up 0.1 %

Shares of NASDAQ:FMB traded up $0.07 during trading on Monday, hitting $50.78. 37,351 shares of the company traded hands, compared to its average volume of 162,459. The business’s fifty day moving average is $51.27 and its 200-day moving average is $50.77. First Trust Managed Municipal ETF has a one year low of $48.08 and a one year high of $51.77.

First Trust Managed Municipal ETF Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 24th will be issued a dividend of $0.135 per share. This represents a $1.62 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Tuesday, April 23rd.

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.