First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Short Interest Up 155.8% in August

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) was the target of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 28,394 shares, an increase of 155.8% from the July 30th total of 11,100 shares. Based on an average trading volume of 107,738 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company’s shares are short sold.

First Trust Short Duration Managed Municipal ETF Price Performance

Shares of NYSEARCA:FSMB remained flat at $19.87 during trading hours on Friday. The company’s stock had a trading volume of 133,047 shares, compared to its average volume of 143,059. The firm has a 50-day simple moving average of $19.94 and a two-hundred day simple moving average of $20.01. First Trust Short Duration Managed Municipal ETF has a fifty-two week low of $19.80 and a fifty-two week high of $20.25.

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

Several large investors have recently added to or reduced their stakes in FSMB. Capital Financial Group Inc. Co. ADV raised its stake in shares of First Trust Short Duration Managed Municipal ETF by 1.6% during the first quarter. Capital Financial Group Inc. Co. ADV now owns 30,900 shares of the company’s stock valued at $617,000 after acquiring an additional 500 shares in the last quarter. Concurrent Investment Advisors LLC increased its holdings in First Trust Short Duration Managed Municipal ETF by 1.5% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 40,125 shares of the company’s stock worth $802,000 after purchasing an additional 595 shares during the period. US Bancorp DE raised its position in First Trust Short Duration Managed Municipal ETF by 29.4% during the 3rd quarter. US Bancorp DE now owns 3,584 shares of the company’s stock valued at $72,000 after purchasing an additional 815 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of First Trust Short Duration Managed Municipal ETF by 3.1% in the 1st quarter. Private Advisor Group LLC now owns 45,205 shares of the company’s stock worth $902,000 after buying an additional 1,360 shares during the period. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of First Trust Short Duration Managed Municipal ETF by 111.5% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 2,750 shares of the company’s stock worth $55,000 after buying an additional 1,450 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.