Short Interest in First Trust Managed Municipal ETF (NASDAQ:FMB) Increases By 37.0%

First Trust Managed Municipal ETF (NASDAQ:FMB) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totalling 40,000 shares, a growth of 37.0% from the November 30th total of 29,200 shares. Based on an average trading volume of 180,600 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of First Trust Managed Municipal ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC raised its position in First Trust Managed Municipal ETF by 6.9% during the 3rd quarter. LPL Financial LLC now owns 2,507,371 shares of the company’s stock valued at $130,283,000 after purchasing an additional 162,331 shares in the last quarter. Miracle Mile Advisors LLC raised its position in shares of First Trust Managed Municipal ETF by 22.2% in the 3rd quarter. Miracle Mile Advisors LLC now owns 599,874 shares of the company’s stock valued at $31,169,000 after purchasing an additional 109,001 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of First Trust Managed Municipal ETF by 6.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 421,410 shares of the company’s stock valued at $21,896,000 after acquiring an additional 25,002 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in shares of First Trust Managed Municipal ETF by 5.0% during the third quarter. OneDigital Investment Advisors LLC now owns 419,165 shares of the company’s stock worth $21,780,000 after purchasing an additional 19,917 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of First Trust Managed Municipal ETF by 14.2% in the second quarter. Envestnet Asset Management Inc. now owns 403,320 shares of the company’s stock worth $20,594,000 after acquiring an additional 50,146 shares during the period.

First Trust Managed Municipal ETF Trading Up 0.4 %

Shares of NASDAQ:FMB traded up $0.20 during midday trading on Monday, hitting $51.03. The company had a trading volume of 387,101 shares, compared to its average volume of 161,478. The company has a fifty day moving average of $51.32 and a two-hundred day moving average of $51.51. First Trust Managed Municipal ETF has a 12-month low of $48.10 and a 12-month high of $52.13.

First Trust Managed Municipal ETF Announces Dividend

The business also recently announced a dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.139 dividend. The ex-dividend date of this dividend is Friday, December 13th.

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.