First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Large Drop in Short Interest

First Trust Managed Municipal ETF (NASDAQ:FMB) was the recipient of a significant decline in short interest in the month of January. As of January 15th, there was short interest totaling 35,138 shares, a decline of 35.5% from the December 31st total of 54,450 shares. Based on an average trading volume of 250,139 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the company’s shares are short sold. Approximately 0.1% of the company’s shares are short sold. Based on an average trading volume of 250,139 shares, the short-interest ratio is presently 0.1 days.

First Trust Managed Municipal ETF Stock Performance

Shares of First Trust Managed Municipal ETF stock traded up $0.07 during trading hours on Friday, reaching $51.42. The stock had a trading volume of 107,130 shares, compared to its average volume of 206,117. First Trust Managed Municipal ETF has a 1 year low of $48.19 and a 1 year high of $51.54. The firm has a 50 day simple moving average of $51.20 and a two-hundred day simple moving average of $50.71.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 21st were given a dividend of $0.154 per share. This represents a c) dividend on an annualized basis and a yield of 3.6%. This is a positive change from First Trust Managed Municipal ETF’s previous monthly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, January 21st.

Hedge Funds Weigh In On First Trust Managed Municipal ETF

Several hedge funds and other institutional investors have recently made changes to their positions in FMB. Allworth Financial LP increased its position in shares of First Trust Managed Municipal ETF by 24.5% during the second quarter. Allworth Financial LP now owns 96,682 shares of the company’s stock worth $4,817,000 after acquiring an additional 19,018 shares during the last quarter. CWM LLC lifted its position in shares of First Trust Managed Municipal ETF by 19.1% in the 3rd quarter. CWM LLC now owns 127,041 shares of the company’s stock worth $6,441,000 after buying an additional 20,364 shares during the last quarter. Seascape Capital Management boosted its stake in First Trust Managed Municipal ETF by 110.0% in the third quarter. Seascape Capital Management now owns 47,250 shares of the company’s stock valued at $2,396,000 after acquiring an additional 24,750 shares during the period. Milestones Private Investment Advisors LLC acquired a new position in First Trust Managed Municipal ETF during the 2nd quarter valued at approximately $868,000. Finally, Miracle Mile Advisors LLC boosted its holdings in shares of First Trust Managed Municipal ETF by 50.3% during the third quarter. Miracle Mile Advisors LLC now owns 1,070,100 shares of the company’s stock valued at $54,256,000 after acquiring an additional 358,121 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.