First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Sees Significant Increase in Short Interest

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) saw a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 28,394 shares, a growth of 155.8% from the July 30th total of 11,100 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average trading volume of 107,738 shares, the short-interest ratio is currently 0.3 days.

First Trust Short Duration Managed Municipal ETF Price Performance

Shares of First Trust Short Duration Managed Municipal ETF stock opened at $19.87 on Friday. First Trust Short Duration Managed Municipal ETF has a fifty-two week low of $19.80 and a fifty-two week high of $20.25. The business’s fifty day moving average is $19.94 and its two-hundred day moving average is $20.01.

Hedge Funds Weigh In On First Trust Short Duration Managed Municipal ETF

Several hedge funds and other institutional investors have recently modified their holdings of FSMB. Advisory Services Network LLC purchased a new position in First Trust Short Duration Managed Municipal ETF in the third quarter valued at approximately $32,000. Legacy Wealth Managment LLC ID increased its position in shares of First Trust Short Duration Managed Municipal ETF by 800.7% in the first quarter. Legacy Wealth Managment LLC ID now owns 2,666 shares of the company’s stock worth $53,000 after acquiring an additional 2,370 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position in shares of First Trust Short Duration Managed Municipal ETF by 111.5% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,750 shares of the company’s stock worth $55,000 after acquiring an additional 1,450 shares in the last quarter. US Bancorp DE raised its stake in shares of First Trust Short Duration Managed Municipal ETF by 29.4% in the 3rd quarter. US Bancorp DE now owns 3,584 shares of the company’s stock valued at $72,000 after acquiring an additional 815 shares during the period. Finally, Tucker Asset Management LLC purchased a new position in shares of First Trust Short Duration Managed Municipal ETF in the 4th quarter valued at $82,000.

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.