First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Short Interest Up 50.5% in August

First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) was the recipient of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 29,078 shares, an increase of 50.5% from the July 30th total of 19,325 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 63,586 shares, the days-to-cover ratio is presently 0.5 days.

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

Several institutional investors and hedge funds have recently modified their holdings of the stock. HORAN Wealth LLC bought a new position in First Trust Ultra Short Duration Municipal ETF in the 2nd quarter valued at approximately $259,000. Compass Financial Management LLC purchased a new position in First Trust Ultra Short Duration Municipal ETF in the 2nd quarter worth approximately $183,000. White Wing Wealth Management purchased a new position in shares of First Trust Ultra Short Duration Municipal ETF during the second quarter valued at about $1,602,000. Dynamic Advisor Solutions LLC lifted its position in First Trust Ultra Short Duration Municipal ETF by 19.9% during the second quarter. Dynamic Advisor Solutions LLC now owns 35,427 shares of the company’s stock valued at $710,000 after purchasing an additional 5,890 shares during the last quarter. Finally, CoreCap Advisors LLC raised its stake in shares of First Trust Ultra Short Duration Municipal ETF by 30.6% in the second quarter. CoreCap Advisors LLC now owns 7,894 shares of the company’s stock valued at $158,000 after acquiring an additional 1,849 shares during the period.

First Trust Ultra Short Duration Municipal ETF Stock Down 0.0%

Shares of NYSEARCA FUMB traded down $0.01 during trading hours on Wednesday, hitting $20.05. The company’s stock had a trading volume of 10,510 shares, compared to its average volume of 81,075. The business has a 50-day simple moving average of $20.06 and a 200-day simple moving average of $20.07. First Trust Ultra Short Duration Municipal ETF has a 12 month low of $19.98 and a 12 month high of $20.72.

First Trust Ultra Short Duration Municipal ETF Company Profile

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. FUMB was launched on Nov 1, 2018 and is managed by First Trust.