First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Stock Short Interest Rises 161.6%

First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 169,236 shares, an increase of 161.6% from the September 15th total of 64,705 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average trading volume of 179,943 shares, the days-to-cover ratio is currently 0.9 days.

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

Hedge funds have recently bought and sold shares of the stock. XML Financial LLC increased its holdings in shares of First Trust Ultra Short Duration Municipal ETF by 10.4% in the 1st 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. Gateway Wealth Partners LLC lifted its holdings in shares of First Trust Ultra Short Duration Municipal ETF by 107.1% during the 1st quarter. Gateway Wealth Partners LLC now owns 260,066 shares of the company’s stock worth $5,214,000 after acquiring an additional 134,492 shares during the last quarter. Kestra Private Wealth Services LLC grew its position in First Trust Ultra Short Duration Municipal ETF by 8.3% in the first quarter. Kestra Private Wealth Services LLC now owns 148,742 shares of the company’s stock worth $2,982,000 after acquiring an additional 11,342 shares in the last quarter. Kestra Advisory Services LLC grew its position in First Trust Ultra Short Duration Municipal ETF by 16.2% in the first quarter. Kestra Advisory Services LLC now owns 124,580 shares of the company’s stock worth $2,498,000 after acquiring an additional 17,337 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in First Trust Ultra Short Duration Municipal ETF by 38.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 124,464 shares of the company’s stock worth $2,497,000 after acquiring an additional 34,765 shares in the last quarter.

First Trust Ultra Short Duration Municipal ETF Stock Performance

Shares of NYSEARCA FUMB remained flat at $19.95 during midday trading on Monday. The stock had a trading volume of 165,094 shares, compared to its average volume of 96,105. The firm has a 50-day moving average price of $20.02 and a two-hundred day moving average price of $20.05. First Trust Ultra Short Duration Municipal ETF has a 52 week low of $19.88 and a 52 week high of $20.72.

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.