First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Stock Short Interest Declines 61.6%

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 52,596 shares, a drop of 61.6% from the September 30th total of 137,031 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average trading volume of 358,632 shares, the days-to-cover ratio is currently 0.1 days.

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

Institutional investors have recently modified their holdings of the stock. Legacy Wealth Managment LLC ID lifted its holdings in First Trust Short Duration Managed Municipal ETF by 800.7% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 2,666 shares of the company’s stock worth $53,000 after buying an additional 2,370 shares in the last quarter. Financial Enhancement Group LLC bought a new position in First Trust Short Duration Managed Municipal ETF in the 3rd quarter valued at $224,000. CoreCap Advisors LLC boosted its position in First Trust Short Duration Managed Municipal ETF by 31.5% in the 2nd quarter. CoreCap Advisors LLC now owns 12,017 shares of the company’s stock valued at $240,000 after buying an additional 2,876 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of First Trust Short Duration Managed Municipal ETF in the 2nd quarter valued at $252,000. Finally, Sowell Financial Services LLC acquired a new stake in shares of First Trust Short Duration Managed Municipal ETF in the 3rd quarter valued at $290,000.

First Trust Short Duration Managed Municipal ETF Stock Down 0.1%

FSMB opened at $19.74 on Thursday. The firm’s 50-day simple moving average is $19.69 and its 200-day simple moving average is $19.95. First Trust Short Duration Managed Municipal ETF has a twelve month low of $19.36 and a twelve 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.