First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Short Interest Update

First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 124,612 shares, an increase of 328.5% from the August 15th total of 29,078 shares. Based on an average daily volume of 44,264 shares, the days-to-cover ratio is presently 2.8 days. Approximately 1.0% of the company’s shares are short sold.

First Trust Ultra Short Duration Municipal ETF Price Performance

Shares of FUMB opened at $20.03 on Friday. The firm has a fifty day moving average price of $20.06 and a 200-day moving average price of $20.07. First Trust Ultra Short Duration Municipal ETF has a 12-month low of $19.98 and a 12-month high of $20.72.

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

Large investors have recently added to or reduced their stakes in the stock. Gateway Wealth Partners LLC grew its holdings in 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 in the last quarter. Royal Bank of Canada raised its holdings in shares of First Trust Ultra Short Duration Municipal ETF by 49.1% in the 1st quarter. Royal Bank of Canada now owns 331,310 shares of the company’s stock valued at $6,658,000 after purchasing an additional 109,110 shares in the last quarter. Capital Financial Group Inc. Co. ADV bought a new stake in shares of First Trust Ultra Short Duration Municipal ETF in the 4th quarter valued at about $1,687,000. White Wing Wealth Management purchased a new stake in shares of First Trust Ultra Short Duration Municipal ETF in the 2nd quarter worth approximately $1,602,000. Finally, Wells Fargo & Company MN lifted its position in shares of 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 purchasing an additional 74,572 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.