Shares of First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB – Get Free Report) saw unusually-high trading volume on Tuesday . 616,181 shares changed hands during mid-day trading, an increase of 330% from the previous session’s volume of 143,371 shares.The stock last traded at $19.7450 and had previously closed at $19.75.
First Trust Short Duration Managed Municipal ETF Stock Performance
The stock has a 50-day moving average price of $19.89 and a two-hundred day moving average price of $19.97.
Institutional Investors Weigh In On First Trust Short Duration Managed Municipal ETF
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FSMB. Integrated Wealth Concepts LLC purchased a new position in First Trust Short Duration Managed Municipal ETF during the second quarter valued at approximately $252,000. RFG Advisory LLC raised its position in shares of First Trust Short Duration Managed Municipal ETF by 11.1% during the 2nd quarter. RFG Advisory LLC now owns 133,263 shares of the company’s stock valued at $2,664,000 after purchasing an additional 13,355 shares during the period. Waverly Advisors LLC bought a new stake in shares of First Trust Short Duration Managed Municipal ETF during the 2nd quarter valued at $14,032,000. Insight Inv LLC raised its position in shares of First Trust Short Duration Managed Municipal ETF by 5.4% during the 2nd quarter. Insight Inv LLC now owns 91,485 shares of the company’s stock valued at $1,829,000 after purchasing an additional 4,675 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of First Trust Short Duration Managed Municipal ETF by 1.5% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 40,125 shares of the company’s stock valued at $802,000 after buying an additional 595 shares in the last quarter.
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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