First Trust Managed Municipal ETF (NASDAQ:FMB) Short Interest Up 249.5% in August

First Trust Managed Municipal ETF (NASDAQ:FMB) saw a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 58,696 shares, a growth of 249.5% from the July 30th total of 16,794 shares. Based on an average daily volume of 129,728 shares, the short-interest ratio is currently 0.5 days. Currently, 0.1% of the shares of the stock are short sold.

First Trust Managed Municipal ETF Stock Performance

First Trust Managed Municipal ETF stock opened at $50.16 on Thursday. The company’s 50-day moving average price is $50.82 and its 200-day moving average price is $51.09. First Trust Managed Municipal ETF has a twelve month low of $49.62 and a twelve month high of $52.03.

First Trust Managed Municipal ETF Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 21st will be given a dividend of $0.158 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a c) annualized dividend and a dividend yield of 3.8%. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.16.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Continuum Advisory LLC bought a new position in First Trust Managed Municipal ETF in the 2nd quarter valued at $29,000. Frazier Financial Advisors LLC purchased a new position in First Trust Managed Municipal ETF during the first quarter valued at approximately $31,000. PNC Financial Services Group Inc. purchased a new position in shares of First Trust Managed Municipal ETF in the 3rd quarter valued at $51,000. Ascentis Independent Advisors purchased a new position in First Trust Managed Municipal ETF in the first quarter valued at about $53,000. Finally, Tucker Asset Management LLC purchased a new position in shares of First Trust Managed Municipal ETF in the 4th quarter worth approximately $54,000.

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.