Short Interest in First Trust Managed Municipal ETF (NASDAQ:FMB) Rises By 37.0%

First Trust Managed Municipal ETF (NASDAQ:FMB) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 40,000 shares, an increase of 37.0% from the November 30th total of 29,200 shares. Based on an average trading volume of 180,600 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On First Trust Managed Municipal ETF

A number of hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC purchased a new position in shares of First Trust Managed Municipal ETF during the 2nd quarter worth $112,000. BCGM Wealth Management LLC grew its stake in shares of First Trust Managed Municipal ETF by 2.8% in the 2nd quarter. BCGM Wealth Management LLC now owns 101,314 shares of the company’s stock valued at $5,173,000 after buying an additional 2,714 shares during the period. IFG Advisory LLC increased its holdings in shares of First Trust Managed Municipal ETF by 10.0% during the 2nd quarter. IFG Advisory LLC now owns 34,034 shares of the company’s stock worth $1,738,000 after buying an additional 3,106 shares during the last quarter. WR Wealth Planners LLC purchased a new stake in shares of First Trust Managed Municipal ETF during the 2nd quarter valued at approximately $56,000. Finally, Naviter Wealth LLC lifted its holdings in First Trust Managed Municipal ETF by 9.7% in the second quarter. Naviter Wealth LLC now owns 18,825 shares of the company’s stock valued at $961,000 after acquiring an additional 1,667 shares during the last quarter.

First Trust Managed Municipal ETF Price Performance

NASDAQ:FMB traded up $0.20 during trading hours on Monday, hitting $51.03. 387,101 shares of the stock were exchanged, compared to its average volume of 161,478. First Trust Managed Municipal ETF has a 52-week low of $48.10 and a 52-week high of $52.13. The firm’s fifty day moving average price is $51.32 and its 200 day moving average price is $51.51.

First Trust Managed Municipal ETF Dividend Announcement

The firm also recently announced a dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.139 per share. The ex-dividend date of this dividend is Friday, December 13th.

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.