Short Interest in First Trust Managed Municipal ETF (NASDAQ:FMB) Drops By 70.0%

by · The Cerbat Gem

First Trust Managed Municipal ETF (NASDAQ:FMB – Get Free Report) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 16,794 shares, a drop of 70.0% from the July 15th total of 56,048 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 174,598 shares, the days-to-cover ratio is presently 0.1 days.

First Trust Managed Municipal ETF Stock Down 0.2%

Shares of First Trust Managed Municipal ETF stock traded down $0.10 during trading on Friday, hitting $50.62. 64,185 shares of the stock were exchanged, compared to its average volume of 150,487. The company has a fifty day moving average price of $50.99 and a 200-day moving average price of $51.16. First Trust Managed Municipal ETF has a 1-year low of $49.49 and a 1-year high of $52.03.

First Trust Managed Municipal ETF Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 21st were paid a $0.157 dividend. The ex-dividend date was Tuesday, July 21st. This represents a c) annualized dividend and a yield of 3.7%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. TrueWealth Financial Partners acquired a new stake in First Trust Managed Municipal ETF during the 4th quarter valued at $12,720,000. Bank of America Corp DE raised its position in shares of First Trust Managed Municipal ETF by 12.2% in the first quarter. Bank of America Corp DE now owns 2,046,794 shares of the company’s stock valued at $103,691,000 after purchasing an additional 221,955 shares during the period. Jane Street Group LLC raised its position in shares of First Trust Managed Municipal ETF by 2,668.1% in the first quarter. Jane Street Group LLC now owns 189,530 shares of the company’s stock valued at $9,557,000 after purchasing an additional 182,683 shares during the period. LPL Financial LLC raised its position in shares of First Trust Managed Municipal ETF by 8.5% in the fourth quarter. LPL Financial LLC now owns 2,308,525 shares of the company’s stock valued at $118,046,000 after purchasing an additional 181,458 shares during the period. Finally, Composition Wealth LLC lifted its stake in shares of First Trust Managed Municipal ETF by 8.7% during the 4th quarter. Composition Wealth LLC now owns 1,163,045 shares of the company’s stock worth $59,472,000 after buying an additional 92,945 shares during the last quarter.

First Trust Managed Municipal ETF Company Profile

(Get Free Report)

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.

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