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

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) shares saw unusually-strong trading volume on Tuesday . Approximately 616,181 shares were traded during mid-day trading, an increase of 330% from the previous session’s volume of 143,371 shares.The stock last traded at $19.7450 and had previously closed at $19.75.

First Trust Short Duration Managed Municipal ETF Stock Down 0.1%

The company’s fifty day moving average price is $19.90 and its two-hundred day moving average price is $19.98.

Institutional Trading of First Trust Short Duration Managed Municipal ETF

Several hedge funds have recently modified their holdings of FSMB. Legacy Wealth Managment LLC ID grew its position in First Trust Short Duration Managed Municipal ETF by 800.7% during the 1st 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 during the last quarter. Hazlett Burt & Watson Inc. raised its position in 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 purchasing an additional 1,450 shares during the last quarter. Tucker Asset Management LLC bought a new position in First Trust Short Duration Managed Municipal ETF in the 4th quarter valued at $82,000. Harbour Investments Inc. boosted its stake in First Trust Short Duration Managed Municipal ETF by 47.9% in the fourth quarter. Harbour Investments Inc. now owns 7,690 shares of the company’s stock worth $154,000 after purchasing an additional 2,490 shares in the last quarter. Finally, EdgeRock Capital LLC acquired a new position in First Trust Short Duration Managed Municipal ETF in the first quarter worth $211,000.

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.