First Trust Managed Municipal ETF (NASDAQ:FMB) Short Interest Down 27.0% in June

First Trust Managed Municipal ETF (NASDAQ:FMB) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totalling 20,300 shares, a drop of 27.0% from the June 15th total of 27,800 shares. Based on an average trading volume of 144,000 shares, the short-interest ratio is presently 0.1 days.

First Trust Managed Municipal ETF Price Performance

FMB opened at $51.51 on Monday. First Trust Managed Municipal ETF has a 1 year low of $48.08 and a 1 year high of $51.77. The stock has a fifty day moving average price of $51.10 and a 200 day moving average price of $51.25.

First Trust Managed Municipal ETF Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 27th were issued a $0.137 dividend. The ex-dividend date of this dividend was Thursday, June 27th.

Hedge Funds Weigh In On First Trust Managed Municipal ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its holdings in shares of First Trust Managed Municipal ETF by 14.0% during the 4th quarter. Wells Fargo & Company MN now owns 2,042,465 shares of the company’s stock valued at $105,523,000 after purchasing an additional 251,160 shares in the last quarter. Avantax Planning Partners Inc. raised its holdings in First Trust Managed Municipal ETF by 13.4% during the fourth quarter. Avantax Planning Partners Inc. now owns 1,028,945 shares of the company’s stock valued at $53,160,000 after buying an additional 121,339 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of First Trust Managed Municipal ETF by 9.3% in the first quarter. Sequoia Financial Advisors LLC now owns 987,518 shares of the company’s stock worth $50,719,000 after buying an additional 84,095 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of First Trust Managed Municipal ETF by 16.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 751,689 shares of the company’s stock valued at $38,607,000 after acquiring an additional 106,443 shares during the last quarter. Finally, Congress Wealth Management LLC DE raised its stake in shares of First Trust Managed Municipal ETF by 2.7% in 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.

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.