First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB – Get Free Report) saw a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 85,925 shares, an increase of 260.8% from the August 31st total of 23,814 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average trading volume of 287,974 shares, the short-interest ratio is presently 0.3 days.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of FSMB. Envestnet Portfolio Solutions Inc. raised its holdings in shares of First Trust Short Duration Managed Municipal ETF by 5.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 103,456 shares of the company’s stock worth $2,068,000 after acquiring an additional 5,428 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of First Trust Short Duration Managed Municipal ETF by 3.1% during the second quarter. Envestnet Asset Management Inc. now owns 389,403 shares of the company’s stock valued at $7,784,000 after acquiring an additional 11,572 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in First Trust Short Duration Managed Municipal ETF during the 2nd quarter worth about $252,000. RFG Advisory LLC increased its position in 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 worth $2,664,000 after purchasing an additional 13,355 shares in the last quarter. Finally, Waverly Advisors LLC acquired a new position in First Trust Short Duration Managed Municipal ETF in the 2nd quarter valued at about $14,032,000.
First Trust Short Duration Managed Municipal ETF Stock Down 0.2%
Shares of NYSEARCA FSMB traded down $0.03 on Friday, hitting $19.48. The company’s stock had a trading volume of 234,581 shares, compared to its average volume of 155,618. The stock has a 50 day moving average of $19.84 and a 200-day moving average of $19.95. First Trust Short Duration Managed Municipal ETF has a 12-month low of $19.46 and a 12-month high of $20.25.
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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