John Hancock Dynamic Municipal Bond ETF (NYSEARCA:JHMU) Sees Significant Increase in Short Interest

John Hancock Dynamic Municipal Bond ETF (NYSEARCA:JHMU) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totaling 51,982 shares, a growth of 131.3% from the September 30th total of 22,474 shares. Based on an average daily trading volume, of 207,711 shares, the days-to-cover ratio is presently 0.3 days. Currently, 1.4% of the company’s stock are sold short.

John Hancock Dynamic Municipal Bond ETF Stock Up 0.2%

NYSEARCA:JHMU traded up $0.06 during trading hours on Friday, reaching $25.54. 5,610 shares of the stock were exchanged, compared to its average volume of 18,876. The firm has a 50 day simple moving average of $25.24 and a 200-day simple moving average of $25.98. John Hancock Dynamic Municipal Bond ETF has a 52 week low of $24.49 and a 52 week high of $26.70. The stock has a market capitalization of $95.01 million, a P/E ratio of 15.71 and a beta of 0.21.

John Hancock Dynamic Municipal Bond ETF Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, October 28th will be given a dividend of $0.0434 per share. The ex-dividend date of this dividend is Wednesday, October 28th. This represents a $0.52 annualized dividend and a dividend yield of 2.0%. This is a decrease from John Hancock Dynamic Municipal Bond ETF’s previous monthly dividend of $0.0760.

Hedge Funds Weigh In On John Hancock Dynamic Municipal Bond ETF

Several large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC bought a new stake in John Hancock Dynamic Municipal Bond ETF during the second quarter valued at $217,000. Pine Valley Investments Ltd Liability Co acquired a new position in shares of John Hancock Dynamic Municipal Bond ETF in the 1st quarter valued at about $313,000. Citadel Advisors LLC acquired a new position in shares of John Hancock Dynamic Municipal Bond ETF in the 2nd quarter valued at about $397,000. Royal Bank of Canada acquired a new position in shares of John Hancock Dynamic Municipal Bond ETF in the 1st quarter valued at about $592,000. Finally, Capital Analysts LLC grew its position in shares of John Hancock Dynamic Municipal Bond ETF by 12.0% during the 2nd quarter. Capital Analysts LLC now owns 27,059 shares of the company’s stock valued at $712,000 after buying an additional 2,895 shares during the last quarter.

John Hancock Dynamic Municipal Bond ETF Company Profile

The John Hancock Dynamic Municipal Bond ETF (JHMU) is an exchange-traded fund that is based on the John Hancock Dimensional Utilities index. The fund is an actively managed fund that primarily invests in investment grade municipal bonds of any maturity. The fund seeks to provide tax-exempt income. JHMU was launched on Oct 31, 2023 and is issued by John Hancock.