First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Short Interest Up 109.9% in May

First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) saw a large growth in short interest in May. As of May 31st, there was short interest totalling 78,300 shares, a growth of 109.9% from the May 15th total of 37,300 shares. Based on an average daily volume of 65,100 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.8% of the shares of the company are short sold.

Hedge Funds Weigh In On First Trust Ultra Short Duration Municipal ETF

Hedge funds have recently added to or reduced their stakes in the business. IMG Wealth Management Inc. purchased a new stake in First Trust Ultra Short Duration Municipal ETF in the 1st quarter valued at approximately $28,000. CX Institutional acquired a new position in shares of First Trust Ultra Short Duration Municipal ETF in the first quarter worth $46,000. Coppell Advisory Solutions LLC lifted its position in shares of First Trust Ultra Short Duration Municipal ETF by 253.2% in the fourth quarter. Coppell Advisory Solutions LLC now owns 2,942 shares of the company’s stock valued at $59,000 after acquiring an additional 2,109 shares in the last quarter. Capital Analysts LLC acquired a new stake in shares of First Trust Ultra Short Duration Municipal ETF during the first quarter valued at $72,000. Finally, Harbour Investments Inc. boosted its stake in shares of First Trust Ultra Short Duration Municipal ETF by 215.7% during the first quarter. Harbour Investments Inc. now owns 8,550 shares of the company’s stock valued at $172,000 after acquiring an additional 5,842 shares during the last quarter.

First Trust Ultra Short Duration Municipal ETF Stock Down 0.0%

NYSEARCA:FUMB opened at $20.11 on Monday. The firm’s fifty day simple moving average is $20.07 and its 200-day simple moving average is $20.10. First Trust Ultra Short Duration Municipal ETF has a fifty-two week low of $19.91 and a fifty-two week high of $20.23.

First Trust Ultra Short Duration Municipal ETF Company Profile

The First Trust Ultra Short Duration Municipal ETF (FUMB) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund of US municipal debt with a targeted portfolio duration of less than one year. The fund seeks tax-exempt income and capital preservation.