First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Short Interest Update

First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) saw a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 13,171 shares, a drop of 48.3% from the May 14th total of 25,477 shares. Based on an average daily volume of 119,514 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the shares of the company are short sold.

First Trust Ultra Short Duration Municipal ETF Price Performance

FUMB stock remained flat at $20.08 during midday trading on Friday. The company’s stock had a trading volume of 15,351 shares, compared to its average volume of 93,267. First Trust Ultra Short Duration Municipal ETF has a one year low of $20.01 and a one year high of $20.72. The firm’s fifty day simple moving average is $20.06 and its 200 day simple moving average is $20.08.

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

Several hedge funds have recently modified their holdings of FUMB. Baird Financial Group Inc. boosted its position in shares of First Trust Ultra Short Duration Municipal ETF by 25.0% in the first quarter. Baird Financial Group Inc. now owns 12,500 shares of the company’s stock valued at $251,000 after acquiring an additional 2,500 shares during the period. Royal Bank of Canada boosted its position in shares of First Trust Ultra Short Duration Municipal ETF by 49.1% in the first quarter. Royal Bank of Canada now owns 331,310 shares of the company’s stock valued at $6,658,000 after acquiring an additional 109,110 shares during the period. Raymond James Financial Inc. boosted its position in shares of First Trust Ultra Short Duration Municipal ETF by 13.1% in the second quarter. Raymond James Financial Inc. now owns 276,645 shares of the company’s stock valued at $5,561,000 after acquiring an additional 32,054 shares during the period. Benjamin Edwards Inc. bought a new stake in shares of First Trust Ultra Short Duration Municipal ETF in the second quarter valued at approximately $249,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of First Trust Ultra Short Duration Municipal ETF in the second quarter valued at approximately $29,000.

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.