Short Interest in First Trust Managed Municipal ETF (NASDAQ:FMB) Expands By 86.2%

First Trust Managed Municipal ETF (NASDAQ:FMB) was the recipient of a significant growth in short interest in May. As of May 29th, there was short interest totaling 59,412 shares, a growth of 86.2% from the May 14th total of 31,906 shares. Based on an average daily volume of 155,856 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.2% of the company’s shares are sold short.

First Trust Managed Municipal ETF Price Performance

First Trust Managed Municipal ETF stock opened at $51.26 on Monday. The stock’s 50 day moving average is $51.09 and its 200 day moving average is $51.23. First Trust Managed Municipal ETF has a one year low of $49.28 and a one year high of $52.03.

First Trust Managed Municipal ETF Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 21st were paid a $0.156 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, May 21st.

Hedge Funds Weigh In On First Trust Managed Municipal ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in FMB. Jane Street Group LLC lifted its stake 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 worth $9,557,000 after acquiring an additional 182,683 shares during the period. Baird Financial Group Inc. lifted its stake in shares of First Trust Managed Municipal ETF by 0.9% in the second quarter. Baird Financial Group Inc. now owns 30,995 shares of the company’s stock worth $1,544,000 after acquiring an additional 266 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of First Trust Managed Municipal ETF in the second quarter worth approximately $125,000. Main Street Financial Solutions LLC acquired a new position in shares of First Trust Managed Municipal ETF in the second quarter worth approximately $805,000. Finally, Raymond James Financial Inc. lifted its stake in shares of First Trust Managed Municipal ETF by 2.9% in the second quarter. Raymond James Financial Inc. now owns 1,191,423 shares of the company’s stock worth $59,357,000 after acquiring an additional 34,126 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.