First Trust Managed Municipal ETF (NASDAQ:FMB) Short Interest Update

First Trust Managed Municipal ETF (NASDAQ:FMB) saw a significant increase in short interest in April. As of April 30th, there was short interest totaling 14,509 shares, an increase of 131.0% from the April 15th total of 6,282 shares. Based on an average daily volume of 115,445 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the company’s shares are short sold.

First Trust Managed Municipal ETF Stock Down 0.5%

NASDAQ:FMB traded down $0.26 during midday trading on Friday, hitting $50.80. The stock had a trading volume of 135,611 shares, compared to its average volume of 147,741. First Trust Managed Municipal ETF has a one year low of $49.28 and a one year high of $52.03. The stock has a 50-day moving average of $51.11 and a 200 day moving average of $51.26.

First Trust Managed Municipal ETF Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Thursday, April 30th. Investors of record on Tuesday, April 21st were paid a $0.156 dividend. The ex-dividend date of this dividend was Tuesday, April 21st. This represents a c) annualized dividend and a yield of 3.7%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC lifted its holdings in First Trust Managed Municipal ETF by 2,668.1% during the first quarter. Jane Street Group LLC now owns 189,530 shares of the company’s stock worth $9,557,000 after buying an additional 182,683 shares during the period. Baird Financial Group Inc. lifted its holdings in First Trust Managed Municipal ETF by 0.9% during the second quarter. Baird Financial Group Inc. now owns 30,995 shares of the company’s stock worth $1,544,000 after buying an additional 266 shares during the period. Qube Research & Technologies Ltd purchased a new stake in First Trust Managed Municipal ETF during the second quarter worth $125,000. Main Street Financial Solutions LLC purchased a new stake in First Trust Managed Municipal ETF during the second quarter worth $805,000. Finally, Raymond James Financial Inc. lifted its holdings in First Trust Managed Municipal ETF by 2.9% during the second quarter. Raymond James Financial Inc. now owns 1,191,423 shares of the company’s stock worth $59,357,000 after buying an additional 34,126 shares during the period.

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.