First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Shares Shorted: Short Interest Up 161.6% in September

First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 169,236 shares, a growth of 161.6% from the September 15th total of 64,705 shares. Based on an average daily trading volume, of 179,943 shares, the short-interest ratio is presently 0.9 days. Approximately 1.3% of the company’s stock are short sold.

First Trust Ultra Short Duration Municipal ETF Stock Up 0.1%

NYSEARCA:FUMB traded up $0.02 during mid-day trading on Tuesday, hitting $19.97. The stock had a trading volume of 893,649 shares, compared to its average volume of 100,173. First Trust Ultra Short Duration Municipal ETF has a twelve month low of $19.88 and a twelve month high of $20.72. The stock has a 50-day simple moving average of $20.01 and a two-hundred day simple moving average of $20.05.

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

A number of hedge funds and other institutional investors have recently modified their holdings of FUMB. Gateway Wealth Partners LLC boosted its holdings in shares of First Trust Ultra Short Duration Municipal ETF by 107.1% in the 1st quarter. Gateway Wealth Partners LLC now owns 260,066 shares of the company’s stock valued at $5,214,000 after buying an additional 134,492 shares in the last quarter. Capital Financial Group Inc. Co. ADV purchased a new position in shares of First Trust Ultra Short Duration Municipal ETF in the 4th quarter valued at $1,687,000. White Wing Wealth Management acquired a new stake in First Trust Ultra Short Duration Municipal ETF during the 2nd quarter worth $1,602,000. XML Financial LLC raised its stake in First Trust Ultra Short Duration Municipal ETF by 10.4% during the 1st quarter. XML Financial LLC now owns 526,024 shares of the company’s stock worth $10,547,000 after acquiring an additional 49,726 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in First Trust Ultra Short Duration Municipal ETF by 38.8% during the 4th 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.

About First Trust Ultra Short Duration Municipal ETF

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.