Short Interest in First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Declines By 89.8%

First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) saw a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 1,686 shares, a decrease of 89.8% from the February 12th total of 16,543 shares. Based on an average trading volume of 39,942 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the company are short sold. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 39,942 shares, the days-to-cover ratio is currently 0.0 days.

First Trust Ultra Short Duration Municipal ETF Trading Down 0.0%

Shares of First Trust Ultra Short Duration Municipal ETF stock traded down $0.01 during trading hours on Tuesday, reaching $20.10. 35,025 shares of the stock traded hands, compared to its average volume of 89,877. First Trust Ultra Short Duration Municipal ETF has a one year low of $19.91 and a one year high of $20.72. The company has a 50 day moving average price of $20.11 and a 200 day moving average price of $20.10.

First Trust Ultra Short Duration Municipal ETF Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 20th were given a dividend of $0.046 per share. This represents a c) annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, February 20th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wells Fargo & Company MN increased its stake in First Trust Ultra Short Duration Municipal ETF by 12.2% in the 4th quarter. Wells Fargo & Company MN now owns 688,251 shares of the company’s stock worth $13,806,000 after buying an additional 74,572 shares in the last quarter. XML Financial LLC lifted its position in shares of First Trust Ultra Short Duration Municipal ETF by 5.3% in the third quarter. XML Financial LLC now owns 507,182 shares of the company’s stock valued at $10,194,000 after acquiring an additional 25,633 shares in the last quarter. Royal Bank of Canada lifted its position in shares of First Trust Ultra Short Duration Municipal ETF by 49.1% in the first quarter. Royal Bank of Canada now owns 331,310 shares of the company’s stock valued at $6,658,000 after acquiring an additional 109,110 shares in the last quarter. Mainsail Financial Group LLC boosted its stake in shares of First Trust Ultra Short Duration Municipal ETF by 0.9% in the third quarter. Mainsail Financial Group LLC now owns 287,135 shares of the company’s stock worth $5,771,000 after acquiring an additional 2,545 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in shares of First Trust Ultra Short Duration Municipal ETF by 2.3% in the third quarter. Raymond James Financial Inc. now owns 282,938 shares of the company’s stock worth $5,687,000 after acquiring an additional 6,293 shares during the period.

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.