First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Sees Unusually-High Trading Volume – Still a Buy?

Shares of First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) saw strong trading volume on Wednesday . 339,410 shares traded hands during mid-day trading, an increase of 140% from the previous session’s volume of 141,222 shares.The stock last traded at $19.94 and had previously closed at $19.93.

First Trust Short Duration Managed Municipal ETF Stock Up 0.1%

The stock has a 50 day simple moving average of $19.96 and a 200-day simple moving average of $20.03.

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

Hedge funds have recently made changes to their positions in the business. Capital Financial Group Inc. Co. ADV boosted its position in shares of First Trust Short Duration Managed Municipal ETF by 1.6% during the first quarter. Capital Financial Group Inc. Co. ADV now owns 30,900 shares of the company’s stock valued at $617,000 after buying an additional 500 shares during the period. US Bancorp DE raised its holdings in shares of 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 worth $72,000 after buying an additional 815 shares during the period. Private Advisor Group LLC raised its holdings in shares of First Trust Short Duration Managed Municipal ETF by 3.1% in the first quarter. Private Advisor Group LLC now owns 45,205 shares of the company’s stock worth $902,000 after buying an additional 1,360 shares during the period. Hazlett Burt & Watson Inc. lifted its stake 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 acquiring an additional 1,450 shares during the last quarter. Finally, Integrity Wealth Advisors Inc. lifted its stake in shares of First Trust Short Duration Managed Municipal ETF by 13.5% during the 3rd quarter. Integrity Wealth Advisors Inc. now owns 12,375 shares of the company’s stock worth $248,000 after acquiring an additional 1,471 shares during the last quarter.

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.