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

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) shares saw unusually-strong trading volume on Friday . Approximately 182,554 shares changed hands during mid-day trading, an increase of 25% from the previous session’s volume of 146,590 shares.The stock last traded at $19.86 and had previously closed at $19.81.

First Trust Short Duration Managed Municipal ETF Trading Up 0.2%

The business’s 50-day moving average is $19.98 and its 200-day moving average is $20.05.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC purchased a new position in First Trust Short Duration Managed Municipal ETF in the third quarter valued at $32,000. Legacy Wealth Managment LLC ID boosted 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 purchasing an additional 2,370 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its position in First Trust Short Duration Managed Municipal ETF by 111.5% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,750 shares of the company’s stock worth $55,000 after purchasing an additional 1,450 shares in the last quarter. US Bancorp DE grew its holdings in First Trust Short Duration Managed Municipal ETF by 29.4% in the third quarter. US Bancorp DE now owns 3,584 shares of the company’s stock valued at $72,000 after purchasing an additional 815 shares during the period. Finally, Tucker Asset Management LLC purchased a new stake in shares of First Trust Short Duration Managed Municipal ETF in the fourth quarter valued at approximately $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.