First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Shares Shorted: Short Interest Down 48.1% in September

First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 64,705 shares, a decrease of 48.1% from the August 31st total of 124,612 shares. Based on an average trading volume of 99,547 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.5% of the company’s shares are sold short.

First Trust Ultra Short Duration Municipal ETF Stock Performance

Shares of First Trust Ultra Short Duration Municipal ETF stock traded down $0.01 during trading on Wednesday, hitting $19.90. The company’s stock had a trading volume of 377,017 shares, compared to its average volume of 88,006. First Trust Ultra Short Duration Municipal ETF has a 52 week low of $19.88 and a 52 week high of $20.72. The stock has a 50-day moving average price of $20.04 and a two-hundred day moving average price of $20.06.

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

Institutional investors have recently made changes to their positions in the stock. XML Financial LLC raised its position in shares of First Trust Ultra Short Duration Municipal ETF by 10.4% during the first quarter. XML Financial LLC now owns 526,024 shares of the company’s stock worth $10,547,000 after acquiring an additional 49,726 shares during the last quarter. Gateway Wealth Partners LLC increased its position in First Trust Ultra Short Duration Municipal ETF by 107.1% during the 1st quarter. Gateway Wealth Partners LLC now owns 260,066 shares of the company’s stock valued at $5,214,000 after purchasing an additional 134,492 shares during the period. Commonwealth Equity Services LLC raised its holdings in First Trust Ultra Short Duration Municipal ETF by 3.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 223,399 shares of the company’s stock worth $4,481,000 after purchasing an additional 7,271 shares during the last quarter. Kestra Private Wealth Services LLC lifted its position in shares of First Trust Ultra Short Duration Municipal ETF by 8.3% in the 1st quarter. Kestra Private Wealth Services LLC now owns 148,742 shares of the company’s stock worth $2,982,000 after purchasing an additional 11,342 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its position in shares of First Trust Ultra Short Duration Municipal ETF by 0.9% in the 4th quarter. J.W. Cole Advisors Inc. now owns 145,301 shares of the company’s stock worth $2,915,000 after purchasing an additional 1,339 shares during the period.

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.