Short Interest in First Trust Managed Municipal ETF (NASDAQ:FMB) Drops By 70.0%

First Trust Managed Municipal ETF (NASDAQ:FMB) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 16,794 shares, a drop of 70.0% from the July 15th total of 56,048 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 174,598 shares, the days-to-cover ratio is presently 0.1 days.

First Trust Managed Municipal ETF Stock Down 0.2%

Shares of First Trust Managed Municipal ETF stock traded down $0.10 during trading on Friday, hitting $50.62. 64,185 shares of the stock were exchanged, compared to its average volume of 150,487. The company has a fifty day moving average price of $50.99 and a 200-day moving average price of $51.16. First Trust Managed Municipal ETF has a 1-year low of $49.49 and a 1-year high of $52.03.

First Trust Managed Municipal ETF Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 21st were paid a $0.157 dividend. The ex-dividend date was Tuesday, July 21st. This represents a c) annualized dividend and a yield of 3.7%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. TrueWealth Financial Partners acquired a new stake in First Trust Managed Municipal ETF during the 4th quarter valued at $12,720,000. Bank of America Corp DE raised its position in shares of First Trust Managed Municipal ETF by 12.2% in the first 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 period. Jane Street Group LLC raised its position in shares of First Trust Managed Municipal ETF by 2,668.1% in the first quarter. Jane Street Group LLC now owns 189,530 shares of the company’s stock valued at $9,557,000 after purchasing an additional 182,683 shares during the period. LPL Financial LLC raised its position in shares of First Trust Managed Municipal ETF by 8.5% in the fourth quarter. LPL Financial LLC now owns 2,308,525 shares of the company’s stock valued at $118,046,000 after purchasing an additional 181,458 shares during the period. Finally, Composition Wealth LLC lifted its stake in shares of First Trust Managed Municipal ETF by 8.7% during the 4th quarter. Composition Wealth LLC now owns 1,163,045 shares of the company’s stock worth $59,472,000 after buying an additional 92,945 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.