First Trust Managed Municipal ETF (NASDAQ:FMB) Stock Short Interest Rises 143.9%

First Trust Managed Municipal ETF (NASDAQ:FMB) saw a large growth in short interest in the month of October. As of October 30th, there was short interest totaling 24,782 shares, a growth of 143.9% from the October 15th total of 10,162 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily volume of 612,664 shares, the short-interest ratio is presently 0.0 days.

Institutional Trading of First Trust Managed Municipal ETF

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its holdings in First Trust Managed Municipal ETF by 12.2% in the 1st quarter. Bank of America Corp DE now owns 2,046,794 shares of the company’s stock valued at $103,691,000 after purchasing an additional 221,955 shares during the last quarter. Avantax Planning Partners Inc. purchased a new stake in First Trust Managed Municipal ETF in the third quarter valued at approximately $46,615,000. NewEdge Advisors LLC lifted its stake in First Trust Managed Municipal ETF by 16.1% during the second quarter. NewEdge Advisors LLC now owns 497,684 shares of the company’s stock worth $25,565,000 after purchasing an additional 68,875 shares in the last quarter. Cetera Investment Advisers lifted its stake in First Trust Managed Municipal ETF by 2.1% during the first quarter. Cetera Investment Advisers now owns 418,100 shares of the company’s stock worth $21,181,000 after purchasing an additional 8,583 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in First Trust Managed Municipal ETF by 6.6% during the second quarter. Envestnet Asset Management Inc. now owns 345,208 shares of the company’s stock worth $17,732,000 after purchasing an additional 21,260 shares in the last quarter.

First Trust Managed Municipal ETF Stock Performance

Shares of NASDAQ FMB traded down $0.11 during trading on Friday, reaching $49.49. 393,064 shares of the company traded hands, compared to its average volume of 240,685. The firm’s fifty day simple moving average is $48.87 and its 200 day simple moving average is $50.52. First Trust Managed Municipal ETF has a 12-month low of $47.38 and a 12-month high of $52.03.

First Trust Managed Municipal ETF Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, October 21st were issued a dividend of $0.1590 per share. This represents a $1.91 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Wednesday, October 21st.

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.