Elequin Capital LP Raises Stock Position in First Trust Short Duration Managed Municipal ETF $FSMB

Elequin Capital LP boosted its stake in shares of First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) by 119.8% in the third quarter, HoldingsChannel.com reports. The fund owned 52,583 shares of the company’s stock after purchasing an additional 28,655 shares during the period. Elequin Capital LP’s holdings in First Trust Short Duration Managed Municipal ETF were worth $1,056,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Raymond James Financial Inc. grew its position in shares of First Trust Short Duration Managed Municipal ETF by 3.1% in the second 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. RMR Wealth Builders raised its position in shares of First Trust Short Duration Managed Municipal ETF by 9.5% during the 3rd quarter. RMR Wealth Builders now owns 943,851 shares of the company’s stock worth $18,953,000 after purchasing an additional 81,683 shares during the last quarter. TruWealth Advisors LLC lifted its stake in First Trust Short Duration Managed Municipal ETF by 3.1% in the 3rd quarter. TruWealth Advisors LLC now owns 641,990 shares of the company’s stock valued at $12,891,000 after buying an additional 19,201 shares in the last quarter. Royal Bank of Canada lifted its stake in First Trust Short Duration Managed Municipal ETF by 3.7% in the 1st quarter. Royal Bank of Canada now owns 424,996 shares of the company’s stock valued at $8,445,000 after buying an additional 15,155 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in First Trust Short Duration Managed Municipal ETF by 12.8% in the 2nd quarter. NewEdge Advisors LLC now owns 417,780 shares of the company’s stock worth $8,316,000 after buying an additional 47,538 shares during the last quarter.

First Trust Short Duration Managed Municipal ETF Trading Up 0.1%

NYSEARCA:FSMB opened at $20.13 on Friday. First Trust Short Duration Managed Municipal ETF has a 12 month low of $19.47 and a 12 month high of $20.25. The stock has a 50 day moving average of $20.15 and a two-hundred day moving average of $20.10.

First Trust Short Duration Managed Municipal ETF Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 20th were paid a $0.053 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a c) dividend on an annualized basis and a dividend yield of 3.2%.

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.