Pursuit Wealth Management LLC Takes Position in First Trust Short Duration Managed Municipal ETF $FSMB

Pursuit Wealth Management LLC bought a new position in shares of First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) during the fourth quarter, HoldingsChannel.com reports. The firm bought 108,238 shares of the company’s stock, valued at approximately $2,170,000. First Trust Short Duration Managed Municipal ETF comprises 1.9% of Pursuit Wealth Management LLC’s portfolio, making the stock its 11th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. bought a new stake in shares of First Trust Short Duration Managed Municipal ETF during the third quarter valued at approximately $26,000. Advisory Services Network LLC bought a new stake in First Trust Short Duration Managed Municipal ETF in the third quarter worth $32,000. US Bancorp DE increased its position in First Trust Short Duration Managed Municipal ETF by 29.4% in 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. CoreCap Advisors LLC increased its position in First Trust Short Duration Managed Municipal ETF by 248.2% in the fourth quarter. CoreCap Advisors LLC now owns 6,758 shares of the company’s stock worth $135,000 after purchasing an additional 4,817 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. bought a new stake in First Trust Short Duration Managed Municipal ETF in the fourth quarter worth $204,000.

First Trust Short Duration Managed Municipal ETF Stock Performance

Shares of FSMB opened at $20.03 on Thursday. The company’s fifty day moving average is $20.11 and its 200 day moving average is $20.08. First Trust Short Duration Managed Municipal ETF has a fifty-two week low of $19.60 and a fifty-two week high of $20.25.

First Trust Short Duration Managed Municipal ETF Profile

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.