First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Short Interest Update

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 62,475 shares, a growth of 1,265.6% from the June 30th total of 4,575 shares. Based on an average daily volume of 127,586 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.2% of the shares of the company are sold short.

First Trust Short Duration Managed Municipal ETF Trading Up 0.2%

FSMB stock traded up $0.04 during midday trading on Friday, reaching $19.85. 234,869 shares of the company were exchanged, compared to its average volume of 146,974. The business has a 50-day moving average price of $19.98 and a two-hundred day moving average price of $20.05. First Trust Short Duration Managed Municipal ETF has a one year low of $19.80 and a one year high of $20.25.

Institutional Trading of First Trust Short Duration Managed Municipal ETF

Hedge funds have recently modified their holdings of the stock. RMR Wealth Builders raised its position in shares of First Trust Short Duration Managed Municipal ETF by 8.4% in the fourth quarter. RMR Wealth Builders now owns 1,023,222 shares of the company’s stock valued at $20,510,000 after buying an additional 79,371 shares in the last quarter. Pursuit Wealth Management LLC acquired a new stake in First Trust Short Duration Managed Municipal ETF during the fourth quarter worth approximately $2,170,000. Commonwealth Equity Services LLC grew its position in First Trust Short Duration Managed Municipal ETF by 62.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 199,110 shares of the company’s stock worth $3,991,000 after buying an additional 76,219 shares in the last quarter. Fifth Third Bancorp bought a new position in First Trust Short Duration Managed Municipal ETF during the 1st quarter worth $1,735,000. Finally, HighTower Advisors LLC increased its stake in First Trust Short Duration Managed Municipal ETF by 5.5% during the 4th quarter. HighTower Advisors LLC now owns 880,016 shares of the company’s stock worth $17,640,000 after acquiring an additional 46,213 shares during the period.

First Trust Short Duration Managed Municipal ETF Company 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.