First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB – Get Free Report) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 52,596 shares, a decline of 61.6% from the September 30th total of 137,031 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average trading volume of 358,632 shares, the days-to-cover ratio is currently 0.1 days.
Institutional Investors Weigh In On First Trust Short Duration Managed Municipal ETF
Institutional investors and hedge funds have recently bought and sold shares of the stock. Legacy Wealth Managment LLC ID boosted its position in shares of First Trust Short Duration Managed Municipal ETF by 800.7% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 2,666 shares of the company’s stock valued at $53,000 after purchasing an additional 2,370 shares during the period. Financial Enhancement Group LLC bought a new position in First Trust Short Duration Managed Municipal ETF in the third quarter valued at approximately $224,000. CoreCap Advisors LLC raised its stake in shares of First Trust Short Duration Managed Municipal ETF by 31.5% during the 2nd quarter. CoreCap Advisors LLC now owns 12,017 shares of the company’s stock worth $240,000 after purchasing an additional 2,876 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in First Trust Short Duration Managed Municipal ETF in the 2nd quarter valued at about $252,000. Finally, Sowell Financial Services LLC bought a new position in shares of First Trust Short Duration Managed Municipal ETF in the 3rd quarter valued at $290,000.
First Trust Short Duration Managed Municipal ETF Trading Up 0.1%
Shares of FSMB stock traded up $0.01 during trading hours on Friday, hitting $19.77. The stock had a trading volume of 45,540 shares, compared to its average volume of 169,646. First Trust Short Duration Managed Municipal ETF has a one year low of $19.36 and a one year high of $20.25. The stock’s 50-day moving average price is $19.69 and its two-hundred day moving average price is $19.94.
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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