First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Short Interest Down 28.2% in September

First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 35,600 shares, a drop of 28.2% from the August 31st total of 49,600 shares. Based on an average trading volume of 52,500 shares, the short-interest ratio is presently 0.7 days. Based on an average trading volume of 52,500 shares, the short-interest ratio is presently 0.7 days.

First Trust Ultra Short Duration Municipal ETF Stock Performance

Shares of FUMB stock opened at $20.11 on Tuesday. First Trust Ultra Short Duration Municipal ETF has a one year low of $19.91 and a one year high of $20.23. The company’s fifty day moving average price is $20.13 and its 200-day moving average price is $20.11.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. IMG Wealth Management Inc. bought a new stake in shares of First Trust Ultra Short Duration Municipal ETF in the first quarter valued at about $28,000. Newbridge Financial Services Group Inc. purchased a new position in First Trust Ultra Short Duration Municipal ETF during the second quarter valued at approximately $29,000. CX Institutional bought a new position in First Trust Ultra Short Duration Municipal ETF in the first quarter worth approximately $46,000. Capital Analysts LLC bought a new stake in First Trust Ultra Short Duration Municipal ETF during the 1st quarter valued at $72,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of First Trust Ultra Short Duration Municipal ETF in the 2nd quarter worth $83,000.

About First Trust Ultra Short Duration Municipal ETF

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.