Royal Bank of Canada Decreases Stake in First Trust Short Duration Managed Municipal ETF $FSMB

Royal Bank of Canada reduced its position in First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) by 32.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 323,015 shares of the company’s stock after selling 156,545 shares during the period. Royal Bank of Canada’s holdings in First Trust Short Duration Managed Municipal ETF were worth $6,447,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FSMB. Morgan Stanley increased its stake in First Trust Short Duration Managed Municipal ETF by 0.4% in the 4th quarter. Morgan Stanley now owns 4,412,903 shares of the company’s stock worth $88,457,000 after acquiring an additional 16,783 shares during the last quarter. Raymond James Financial Inc. raised its holdings in shares of First Trust Short Duration Managed Municipal ETF by 3.1% during the 2nd quarter. Raymond James Financial Inc. now owns 1,751,968 shares of the company’s stock worth $34,873,000 after acquiring an additional 53,489 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of First Trust Short Duration Managed Municipal ETF by 3.0% during the 4th quarter. Corient Private Wealth LLC now owns 1,225,195 shares of the company’s stock valued at $24,559,000 after acquiring an additional 35,272 shares during the last quarter. RMR Wealth Builders boosted its position in shares of First Trust Short Duration Managed Municipal ETF by 8.4% during the 4th quarter. RMR Wealth Builders now owns 1,023,222 shares of the company’s stock valued at $20,510,000 after acquiring an additional 79,371 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of First Trust Short Duration Managed Municipal ETF by 5.5% during the 4th quarter. HighTower Advisors LLC now owns 880,016 shares of the company’s stock valued at $17,640,000 after acquiring an additional 46,213 shares during the last quarter.

First Trust Short Duration Managed Municipal ETF Price Performance

FSMB stock opened at $19.95 on Wednesday. The firm has a fifty day moving average price of $19.97 and a 200 day moving average price of $20.03. 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.

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.