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

First Trust Managed Municipal ETF (NASDAQ:FMBGet Rating) was the target of a significant increase in short interest in December. As of December 30th, there was short interest totalling 1,020,000 shares, an increase of 1,276.5% from the December 15th total of 74,100 shares. Based on an average trading volume of 463,400 shares, the short-interest ratio is presently 2.2 days.

First Trust Managed Municipal ETF Price Performance

FMB stock opened at $51.26 on Wednesday. First Trust Managed Municipal ETF has a 52 week low of $48.07 and a 52 week high of $56.47. The company’s 50-day moving average price is $50.30 and its 200 day moving average price is $50.25.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, December 30th. Shareholders of record on Tuesday, December 27th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, December 23rd. This represents a $1.44 dividend on an annualized basis and a yield of 2.81%. This is a boost from First Trust Managed Municipal ETF’s previous monthly dividend of $0.12.

Hedge Funds Weigh In On First Trust Managed Municipal ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FMB. Equitable Holdings Inc. raised its position in shares of First Trust Managed Municipal ETF by 8.3% in the first quarter. Equitable Holdings Inc. now owns 82,424 shares of the company’s stock valued at $4,373,000 after buying an additional 6,333 shares during the last quarter. High Net Worth Advisory Group LLC raised its position in shares of First Trust Managed Municipal ETF by 144.8% in the first quarter. High Net Worth Advisory Group LLC now owns 14,666 shares of the company’s stock valued at $778,000 after buying an additional 8,676 shares during the last quarter. Flow Traders U.S. LLC increased its position in First Trust Managed Municipal ETF by 686.3% during the first quarter. Flow Traders U.S. LLC now owns 190,095 shares of the company’s stock worth $10,086,000 after purchasing an additional 165,919 shares during the last quarter. Sowell Financial Services LLC acquired a new position in First Trust Managed Municipal ETF during the first quarter worth approximately $556,000. Finally, GM Advisory Group Inc. increased its position in First Trust Managed Municipal ETF by 10.6% during the first quarter. GM Advisory Group Inc. now owns 335,187 shares of the company’s stock worth $17,785,000 after purchasing an additional 32,252 shares during the last quarter.

Further Reading

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