First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Large Increase in Short Interest
by Tristan Rich · The Markets DailyFirst Trust Managed Municipal ETF (NASDAQ:FMB – Get Free Report) was the target of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 59,679 shares, an increase of 46.0% from the January 29th total of 40,869 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average trading volume of 144,271 shares, the short-interest ratio is currently 0.4 days. Based on an average trading volume of 144,271 shares, the short-interest ratio is currently 0.4 days. Approximately 0.2% of the shares of the company are short sold.
First Trust Managed Municipal ETF Stock Performance
NASDAQ FMB traded up $0.01 during midday trading on Friday, hitting $51.99. The company had a trading volume of 76,220 shares, compared to its average volume of 167,690. The firm has a fifty day simple moving average of $51.47 and a two-hundred day simple moving average of $51.03. First Trust Managed Municipal ETF has a fifty-two week low of $48.19 and a fifty-two week high of $52.03.
First Trust Managed Municipal ETF Increases Dividend
The company also recently declared a monthly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 20th were paid a dividend of $0.155 per share. This is a positive change from First Trust Managed Municipal ETF’s previous monthly dividend of $0.15. This represents a c) annualized dividend and a yield of 3.6%. The ex-dividend date was Friday, February 20th.
Institutional Trading of First Trust Managed Municipal ETF
Institutional investors have recently modified their holdings of the company. Total Investment Management Inc. bought a new stake in shares of First Trust Managed Municipal ETF during the second quarter valued at approximately $27,000. Evolution Wealth Management Inc. acquired a new stake in First Trust Managed Municipal ETF during the second quarter worth $27,000. Ameriflex Group Inc. bought a new stake in First Trust Managed Municipal ETF in the 3rd quarter valued at $40,000. Hazlett Burt & Watson Inc. acquired a new position in shares of First Trust Managed Municipal ETF in the 3rd quarter valued at $45,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of First Trust Managed Municipal ETF during the 3rd quarter worth about $51,000.
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.