First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Sees Large Decline in Short Interest

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 4,575 shares, a drop of 88.3% from the June 15th total of 39,266 shares. Based on an average daily volume of 175,304 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the shares of the company are short sold.

First Trust Short Duration Managed Municipal ETF Stock Performance

First Trust Short Duration Managed Municipal ETF stock traded up $0.01 during mid-day trading on Friday, reaching $20.00. The company’s stock had a trading volume of 157,354 shares, compared to its average volume of 150,833. First Trust Short Duration Managed Municipal ETF has a twelve month low of $19.85 and a twelve month high of $20.25. The business has a 50 day moving average price of $19.99 and a 200-day moving average price of $20.05.

Institutional Inflows and Outflows

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

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.