First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Sees Large Decline in Short Interest

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 4,575 shares, a drop of 88.3% from the June 15th total of 39,266 shares. Based on an average daily volume of 175,304 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are sold short.

Institutional Trading of First Trust Short Duration Managed Municipal ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Elevation Point Wealth Partners LLC purchased a new position in shares of First Trust Short Duration Managed Municipal ETF in the third quarter worth approximately $1,437,000. Elequin Capital LP grew its holdings in shares of First Trust Short Duration Managed Municipal ETF by 119.8% during the third quarter. Elequin Capital LP now owns 52,583 shares of the company’s stock valued at $1,056,000 after buying an additional 28,655 shares in the last quarter. Pursuit Wealth Management LLC purchased a new position in shares of First Trust Short Duration Managed Municipal ETF during the fourth quarter valued at $2,170,000. RMR Wealth Builders raised its position in First Trust Short Duration Managed Municipal ETF by 8.4% during the fourth quarter. RMR Wealth Builders now owns 1,023,222 shares of the company’s stock valued at $20,510,000 after buying an additional 79,371 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in First Trust Short Duration Managed Municipal ETF by 62.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 199,110 shares of the company’s stock valued at $3,991,000 after buying an additional 76,219 shares during the period.

First Trust Short Duration Managed Municipal ETF Trading Up 0.1%

Shares of First Trust Short Duration Managed Municipal ETF stock traded up $0.01 during trading on Friday, hitting $20.00. The stock had a trading volume of 157,354 shares, compared to its average volume of 150,833. The business has a fifty day moving average of $19.99 and a two-hundred day moving average of $20.05. First Trust Short Duration Managed Municipal ETF has a fifty-two week low of $19.85 and a fifty-two week 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.