First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Short Interest Down 55.2% in January

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) was the target of a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 31,450 shares, a decline of 55.2% from the January 15th total of 70,185 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 183,832 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 183,832 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the company’s stock are sold short.

First Trust Short Duration Managed Municipal ETF Stock Up 0.1%

FSMB stock traded up $0.02 during mid-day trading on Thursday, reaching $20.23. The company had a trading volume of 108,822 shares, compared to its average volume of 180,159. First Trust Short Duration Managed Municipal ETF has a 52 week low of $19.47 and a 52 week high of $20.23. The stock has a 50 day simple moving average of $20.08 and a two-hundred day simple moving average of $20.07.

First Trust Short Duration Managed Municipal ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 21st were paid a $0.053 dividend. This is an increase from First Trust Short Duration Managed Municipal ETF’s previous monthly dividend of $0.05. This represents a c) dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Wednesday, January 21st.

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

A number of institutional investors and hedge funds have recently modified their holdings of FSMB. Osaic Holdings Inc. raised its stake in First Trust Short Duration Managed Municipal ETF by 63.4% in the second quarter. Osaic Holdings Inc. now owns 257,639 shares of the company’s stock valued at $5,128,000 after buying an additional 99,949 shares during the period. Dynamic Advisor Solutions LLC raised its stake in First Trust Short Duration Managed Municipal ETF by 50.1% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 77,138 shares of the company’s stock valued at $1,549,000 after acquiring an additional 25,732 shares during the period. AE Wealth Management LLC raised its stake in First Trust Short Duration Managed Municipal ETF by 39.0% in the 2nd quarter. AE Wealth Management LLC now owns 16,550 shares of the company’s stock valued at $329,000 after acquiring an additional 4,640 shares during the period. Advisory Resource Group lifted its holdings in First Trust Short Duration Managed Municipal ETF by 4.3% during the 2nd quarter. Advisory Resource Group now owns 124,929 shares of the company’s stock valued at $2,487,000 after purchasing an additional 5,189 shares during the last quarter. Finally, Allworth Financial LP boosted its position in First Trust Short Duration Managed Municipal ETF by 43.3% during the second quarter. Allworth Financial LP now owns 256,449 shares of the company’s stock worth $5,105,000 after purchasing an additional 77,518 shares during the period.

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.