First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Significant Increase in Short Interest

First Trust Managed Municipal ETF (NASDAQ:FMB) was the target of a large increase in short interest in October. As of October 15th, there was short interest totalling 130,700 shares, an increase of 50.7% from the September 30th total of 86,700 shares. Based on an average daily trading volume, of 158,500 shares, the short-interest ratio is presently 0.8 days.

First Trust Managed Municipal ETF Trading Up 0.0 %

FMB stock traded up $0.03 during midday trading on Friday, reaching $51.15. 170,832 shares of the company’s stock traded hands, compared to its average volume of 153,871. The company has a 50-day simple moving average of $51.75 and a two-hundred day simple moving average of $51.38. First Trust Managed Municipal ETF has a 1-year low of $48.08 and a 1-year high of $52.13.

First Trust Managed Municipal ETF Announces Dividend

The company also recently announced a dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 22nd will be paid a $0.139 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. DHJJ Financial Advisors Ltd. raised its stake in shares of First Trust Managed Municipal ETF by 119.4% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 790 shares of the company’s stock valued at $40,000 after purchasing an additional 430 shares during the period. Fifth Third Bancorp acquired a new stake in shares of First Trust Managed Municipal ETF in the second quarter valued at about $51,000. IAG Wealth Partners LLC acquired a new stake in shares of First Trust Managed Municipal ETF in the second quarter valued at about $53,000. WR Wealth Planners LLC acquired a new stake in shares of First Trust Managed Municipal ETF in the second quarter valued at about $56,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of First Trust Managed Municipal ETF in the second quarter valued at about $112,000.

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.