First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Short Interest Up 137.7% in May

First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 25,477 shares, an increase of 137.7% from the April 30th total of 10,716 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 84,385 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of First Trust Ultra Short Duration Municipal ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN raised its position in shares of First Trust Ultra Short Duration Municipal ETF by 12.2% during the 4th quarter. Wells Fargo & Company MN now owns 688,251 shares of the company’s stock valued at $13,806,000 after purchasing an additional 74,572 shares during the period. XML Financial LLC increased its stake in First Trust Ultra Short Duration Municipal ETF by 10.4% in the 1st quarter. XML Financial LLC now owns 526,024 shares of the company’s stock worth $10,547,000 after buying an additional 49,726 shares in the last quarter. Royal Bank of Canada raised its holdings in First Trust Ultra Short Duration Municipal ETF by 49.1% during 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. raised its holdings in First Trust Ultra Short Duration Municipal ETF by 2.3% during the third quarter. Raymond James Financial Inc. now owns 282,938 shares of the company’s stock valued at $5,687,000 after acquiring an additional 6,293 shares during the period. Finally, Gateway Wealth Partners LLC raised its holdings in First Trust Ultra Short Duration Municipal ETF by 107.1% during the first quarter. Gateway Wealth Partners LLC now owns 260,066 shares of the company’s stock valued at $5,214,000 after acquiring an additional 134,492 shares during the period.

First Trust Ultra Short Duration Municipal ETF Stock Performance

Shares of First Trust Ultra Short Duration Municipal ETF stock remained flat at $20.05 on Tuesday. 95,347 shares of the stock traded hands, compared to its average volume of 95,523. The firm has a 50 day moving average of $20.06 and a 200-day moving average of $20.08. First Trust Ultra Short Duration Municipal ETF has a 1 year low of $20.01 and a 1 year high of $20.72.

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.