Shares of First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB – Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 339,410 shares traded hands during trading, an increase of 140% from the previous session’s volume of 141,222 shares.The stock last traded at $19.94 and had previously closed at $19.93.
First Trust Short Duration Managed Municipal ETF Price Performance
The firm’s fifty day moving average is $19.96 and its two-hundred day moving average is $20.02.
Institutional Trading of First Trust Short Duration Managed Municipal ETF
A number of institutional investors have recently made changes to their positions in FSMB. Royal Bank of Canada increased its stake in shares of First Trust Short Duration Managed Municipal ETF by 3.7% during the first quarter. Royal Bank of Canada now owns 424,996 shares of the company’s stock valued at $8,445,000 after acquiring an additional 15,155 shares during the period. Jane Street Group LLC lifted its position in First Trust Short Duration Managed Municipal ETF by 205.2% in the first quarter. Jane Street Group LLC now owns 63,011 shares of the company’s stock worth $1,252,000 after purchasing an additional 42,363 shares during the period. JPMorgan Chase & Co. boosted its stake in First Trust Short Duration Managed Municipal ETF by 46.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 245,974 shares of the company’s stock valued at $4,896,000 after purchasing an additional 78,417 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of First Trust Short Duration Managed Municipal ETF by 12.8% during the 2nd quarter. NewEdge Advisors LLC now owns 417,780 shares of the company’s stock valued at $8,316,000 after purchasing an additional 47,538 shares during the period. Finally, Raymond James Financial Inc. increased its position in shares of First Trust Short Duration Managed Municipal ETF by 3.1% during the 2nd quarter. Raymond James Financial Inc. now owns 1,751,968 shares of the company’s stock valued at $34,873,000 after purchasing an additional 53,489 shares during the period.
About First Trust Short Duration Managed Municipal ETF
The First Trust Short Duration Managed Municipal ETF (FSMB) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed portfolio of US municipal debt with a targeted portfolio duration of 1 to 3 years. The fund seeks tax-exempt income and capital preservation. FSMB was launched on Nov 1, 2018 and is managed by First Trust.
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