First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Sees Large Decline in Short Interest

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) saw a significant drop in short interest in the month of May. As of May 15th, there was short interest totaling 26,781 shares, a drop of 37.5% from the April 30th total of 42,861 shares. Based on an average trading volume of 95,471 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FSMB. Hazlett Burt & Watson Inc. purchased a new stake in First Trust Short Duration Managed Municipal ETF during the 3rd quarter worth about $26,000. Advisory Services Network LLC acquired a new stake in First Trust Short Duration Managed Municipal ETF during the third quarter worth approximately $32,000. Legacy Wealth Managment LLC ID boosted its position in First Trust Short Duration Managed Municipal ETF by 800.7% during the first quarter. Legacy Wealth Managment LLC ID now owns 2,666 shares of the company’s stock worth $53,000 after acquiring an additional 2,370 shares during the last quarter. US Bancorp DE boosted its position in First Trust Short Duration Managed Municipal ETF by 29.4% during the third quarter. US Bancorp DE now owns 3,584 shares of the company’s stock worth $72,000 after acquiring an additional 815 shares during the last quarter. Finally, Tucker Asset Management LLC acquired a new stake in First Trust Short Duration Managed Municipal ETF during the fourth quarter worth approximately $82,000.

First Trust Short Duration Managed Municipal ETF Price Performance

First Trust Short Duration Managed Municipal ETF stock opened at $20.00 on Friday. First Trust Short Duration Managed Municipal ETF has a one year low of $19.83 and a one year high of $20.25. The business has a fifty day moving average of $19.98 and a two-hundred day moving average of $20.06.

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.