First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Sees Strong Trading Volume – Still a Buy?

Shares of First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) saw unusually-strong trading volume on Wednesday . Approximately 577,426 shares changed hands during mid-day trading, an increase of 285% from the previous session’s volume of 150,005 shares.The stock last traded at $19.61 and had previously closed at $19.69.

First Trust Short Duration Managed Municipal ETF Stock Performance

The business has a 50 day moving average of $19.87 and a 200-day moving average of $19.96.

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

A number of institutional investors and hedge funds have recently modified their holdings of the company. Legacy Wealth Managment LLC ID grew its position in First Trust Short Duration Managed Municipal ETF by 800.7% during the first 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. Hazlett Burt & Watson Inc. raised its holdings in shares of First Trust Short Duration Managed Municipal ETF by 111.5% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 2,750 shares of the company’s stock valued at $55,000 after acquiring an additional 1,450 shares in the last quarter. Harbour Investments Inc. boosted its position in shares of First Trust Short Duration Managed Municipal ETF by 47.9% during the 4th quarter. Harbour Investments Inc. now owns 7,690 shares of the company’s stock valued at $154,000 after acquiring an additional 2,490 shares during the last quarter. EdgeRock Capital LLC purchased a new position in shares of First Trust Short Duration Managed Municipal ETF during the first quarter worth about $211,000. Finally, CoreCap Advisors LLC grew its holdings in shares of First Trust Short Duration Managed Municipal ETF by 31.5% during the second quarter. CoreCap Advisors LLC now owns 12,017 shares of the company’s stock worth $240,000 after purchasing an additional 2,876 shares in the last quarter.

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.