Short Interest in First Trust Managed Municipal ETF (NASDAQ:FMB) Drops By 6.2%

First Trust Managed Municipal ETF (NASDAQ:FMB) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 86,700 shares, a decrease of 6.2% from the September 15th total of 92,400 shares. Based on an average daily trading volume, of 158,000 shares, the days-to-cover ratio is currently 0.5 days.

First Trust Managed Municipal ETF Trading Down 0.1 %

FMB traded down $0.06 during trading on Thursday, hitting $51.74. 59,393 shares of the stock were exchanged, compared to its average volume of 154,149. The firm has a 50 day simple moving average of $51.79 and a 200 day simple moving average of $51.36. 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 Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 26th were issued a dividend of $0.139 per share. This is an increase from First Trust Managed Municipal ETF’s previous dividend of $0.14. The ex-dividend date was Thursday, September 26th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its position in First Trust Managed Municipal ETF by 3.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,024,717 shares of the company’s stock valued at $52,322,000 after acquiring an additional 37,199 shares in the last quarter. Congress Wealth Management LLC DE boosted its position in First Trust Managed Municipal ETF by 2.7% during the 1st quarter. Congress Wealth Management LLC DE now owns 693,046 shares of the company’s stock valued at $35,595,000 after acquiring an additional 17,916 shares in the last quarter. Miracle Mile Advisors LLC boosted its position in First Trust Managed Municipal ETF by 22.2% during the 3rd quarter. Miracle Mile Advisors LLC now owns 599,874 shares of the company’s stock valued at $31,169,000 after acquiring an additional 109,001 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in shares of First Trust Managed Municipal ETF by 44.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 524,971 shares of the company’s stock worth $26,963,000 after purchasing an additional 161,642 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of First Trust Managed Municipal ETF by 14.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 403,320 shares of the company’s stock worth $20,594,000 after purchasing an additional 50,146 shares in the last quarter.

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.