First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Short Interest Up 1,265.6% in July

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 62,475 shares, a growth of 1,265.6% from the June 30th total of 4,575 shares. Based on an average daily trading volume, of 127,586 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.2% of the shares of the stock are short sold.

Institutional Investors Weigh In On First Trust Short Duration Managed Municipal ETF

Several hedge funds have recently made changes to their positions in FSMB. Advisory Services Network LLC purchased a new position in shares of First Trust Short Duration Managed Municipal ETF during the 3rd quarter worth about $32,000. Legacy Wealth Managment LLC ID grew its holdings in First Trust Short Duration Managed Municipal ETF by 800.7% in the first 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. Hazlett Burt & Watson Inc. increased its position in First Trust Short Duration Managed Municipal ETF by 111.5% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,750 shares of the company’s stock worth $55,000 after purchasing an additional 1,450 shares during the last quarter. US Bancorp DE increased its position in First Trust Short Duration Managed Municipal ETF by 29.4% during the third quarter. US Bancorp DE now owns 3,584 shares of the company’s stock worth $72,000 after purchasing an additional 815 shares during the last quarter. Finally, Tucker Asset Management LLC purchased a new stake in shares of First Trust Short Duration Managed Municipal ETF during the 4th quarter valued at $82,000.

First Trust Short Duration Managed Municipal ETF Trading Up 0.2%

Shares of FSMB stock traded up $0.04 during mid-day trading on Friday, reaching $19.85. The stock had a trading volume of 234,869 shares, compared to its average volume of 146,974. The business has a 50-day simple moving average of $19.98 and a 200 day simple moving average of $20.05. First Trust Short Duration Managed Municipal ETF has a 12-month low of $19.80 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.