First Trust Managed Municipal ETF (NASDAQ:FMB) Stock Short Interest Declines 83.3%

First Trust Managed Municipal ETF (NASDAQ:FMB) was the recipient of a large drop in short interest in September. As of September 15th, there was short interest totaling 2,294 shares, a drop of 83.3% from the August 31st total of 13,697 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 367,260 shares, the days-to-cover ratio is presently 0.0 days.

First Trust Managed Municipal ETF Stock Performance

NASDAQ:FMB opened at $48.25 on Friday. The company’s 50-day moving average is $49.99 and its two-hundred day moving average is $50.73. First Trust Managed Municipal ETF has a 12-month low of $48.17 and a 12-month high of $52.03.

First Trust Managed Municipal ETF Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 24th will be given a dividend of $0.1590 per share. This represents a $1.91 dividend on an annualized basis and a yield of 4.0%. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.1580. The ex-dividend date is Thursday, September 24th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FMB. Envestnet Portfolio Solutions Inc. grew its position in shares of First Trust Managed Municipal ETF by 19.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 41,658 shares of the company’s stock valued at $2,140,000 after purchasing an additional 6,705 shares during the period. Envestnet Asset Management Inc. lifted its position in First Trust Managed Municipal ETF by 6.6% during the second quarter. Envestnet Asset Management Inc. now owns 345,208 shares of the company’s stock worth $17,732,000 after buying an additional 21,260 shares during the period. Integrated Wealth Concepts LLC boosted its stake in First Trust Managed Municipal ETF by 124.7% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 46,527 shares of the company’s stock worth $2,390,000 after buying an additional 25,824 shares during the last quarter. RFG Advisory LLC boosted its stake in First Trust Managed Municipal ETF by 31.4% in the 2nd quarter. RFG Advisory LLC now owns 41,784 shares of the company’s stock worth $2,146,000 after buying an additional 9,987 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in First Trust Managed Municipal ETF by 16.1% in the 2nd quarter. NewEdge Advisors LLC now owns 497,684 shares of the company’s stock valued at $25,565,000 after buying an additional 68,875 shares during the period.

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.