First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Short Interest Up 50.5% in August

First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 29,078 shares, an increase of 50.5% from the July 30th total of 19,325 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 63,586 shares, the short-interest ratio is currently 0.5 days.

First Trust Ultra Short Duration Municipal ETF Price Performance

Shares of NYSEARCA:FUMB opened at $20.05 on Thursday. First Trust Ultra Short Duration Municipal ETF has a 12 month low of $19.98 and a 12 month high of $20.72. The company’s 50-day moving average price is $20.06 and its two-hundred day moving average price is $20.07.

Institutional Trading of First Trust Ultra Short Duration Municipal ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rothschild Wealth LLC bought a new position in shares of First Trust Ultra Short Duration Municipal ETF in the 4th quarter valued at about $1,292,000. XML Financial LLC raised its stake in shares of First Trust Ultra Short Duration Municipal ETF by 10.4% during the first quarter. XML Financial LLC now owns 526,024 shares of the company’s stock worth $10,547,000 after buying an additional 49,726 shares during the last quarter. Norris Financial Group LLC acquired a new position in First Trust Ultra Short Duration Municipal ETF in the first quarter valued at approximately $545,000. Concurrent Investment Advisors LLC bought a new position in First Trust Ultra Short Duration Municipal ETF in the fourth quarter valued at approximately $523,000. Finally, White Wing Wealth Management bought a new position in shares of First Trust Ultra Short Duration Municipal ETF in the 2nd quarter worth $1,602,000.

First Trust Ultra Short Duration Municipal ETF Company Profile

The First Trust Ultra Short Duration Municipal ETF (FUMB) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund of US municipal debt with a targeted portfolio duration of less than one year. The fund seeks tax-exempt income and capital preservation. FUMB was launched on Nov 1, 2018 and is managed by First Trust.