First Trust Managed Municipal ETF (NASDAQ:FMB) Short Interest Up 249.5% in August

First Trust Managed Municipal ETF (NASDAQ:FMB) was the target of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 58,696 shares, a growth of 249.5% from the July 30th total of 16,794 shares. Based on an average daily volume of 129,728 shares, the short-interest ratio is currently 0.5 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Investors Weigh In On First Trust Managed Municipal ETF

Several hedge funds have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC increased its holdings in shares of First Trust Managed Municipal ETF by 32.8% in the second quarter. Ameritas Advisory Services LLC now owns 16,862 shares of the company’s stock valued at $866,000 after purchasing an additional 4,167 shares during the last quarter. Kintra Wealth LLC lifted its stake in shares of First Trust Managed Municipal ETF by 1.2% during the 2nd quarter. Kintra Wealth LLC now owns 18,958 shares of the company’s stock worth $962,000 after buying an additional 216 shares during the last quarter. Old Mission Investment Co LLC acquired a new stake in shares of First Trust Managed Municipal ETF during the 2nd quarter worth about $518,000. High Net Worth Advisory Group LLC boosted its holdings in shares of First Trust Managed Municipal ETF by 8.2% during the 2nd quarter. High Net Worth Advisory Group LLC now owns 15,215 shares of the company’s stock worth $782,000 after buying an additional 1,158 shares during the period. Finally, Continuum Advisory LLC bought a new stake in shares of First Trust Managed Municipal ETF during the 2nd quarter worth about $29,000.

First Trust Managed Municipal ETF Price Performance

NASDAQ:FMB remained flat at $50.07 on Friday. The company’s stock had a trading volume of 106,091 shares, compared to its average volume of 149,472. The firm has a 50 day moving average of $50.80 and a two-hundred day moving average of $51.08. First Trust Managed Municipal ETF has a 12-month low of $49.62 and a 12-month high of $52.03.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 21st will be issued a dividend of $0.158 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, August 21st. This is a boost from First Trust Managed Municipal ETF’s previous monthly dividend of $0.16.

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.