John Hancock Dynamic Municipal Bond ETF (NYSEARCA:JHMU) Sees Large Increase in Short Interest

John Hancock Dynamic Municipal Bond ETF (NYSEARCA:JHMU) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totaling 22,474 shares, an increase of 251.3% from the September 15th total of 6,397 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 12,145 shares, the short-interest ratio is currently 1.9 days.

John Hancock Dynamic Municipal Bond ETF Trading Up 0.1%

Shares of NYSEARCA:JHMU traded up $0.03 during trading on Tuesday, hitting $24.87. 16,448 shares of the stock were exchanged, compared to its average volume of 16,832. The company has a fifty day moving average price of $25.42 and a two-hundred day moving average price of $25.90. The company has a market cap of $52.72 million, a PE ratio of 15.71 and a beta of 0.21. John Hancock Dynamic Municipal Bond ETF has a 12-month low of $24.49 and a 12-month high of $26.70.

John Hancock Dynamic Municipal Bond ETF Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 28th were paid a dividend of $0.0760 per share. This is a negative change from John Hancock Dynamic Municipal Bond ETF’s previous monthly dividend of $0.0847. The ex-dividend date of this dividend was Monday, September 28th. This represents a $0.91 dividend on an annualized basis and a dividend yield of 3.7%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. increased its position in John Hancock Dynamic Municipal Bond ETF by 0.6% during the second quarter. Envestnet Asset Management Inc. now owns 78,027 shares of the company’s stock worth $2,054,000 after buying an additional 468 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of John Hancock Dynamic Municipal Bond ETF by 14.3% in the first quarter. Cetera Investment Advisers now owns 59,141 shares of the company’s stock worth $1,535,000 after acquiring an additional 7,407 shares during the last quarter. Capital Analysts LLC raised its holdings in shares of John Hancock Dynamic Municipal Bond ETF by 12.0% in the second quarter. Capital Analysts LLC now owns 27,059 shares of the company’s stock worth $712,000 after acquiring an additional 2,895 shares during the last quarter. Royal Bank of Canada purchased a new stake in shares of John Hancock Dynamic Municipal Bond ETF in the first quarter valued at $592,000. Finally, Citadel Advisors LLC purchased a new stake in shares of John Hancock Dynamic Municipal Bond ETF in the second quarter valued at $397,000.

About John Hancock Dynamic Municipal Bond ETF

The John Hancock Dynamic Municipal Bond ETF (JHMU) is an exchange-traded fund that is based on the John Hancock Dimensional Utilities index. The fund is an actively managed fund that primarily invests in investment grade municipal bonds of any maturity. The fund seeks to provide tax-exempt income. JHMU was launched on Oct 31, 2023 and is issued by John Hancock.