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

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) was the recipient of a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 134,708 shares, a growth of 328.3% from the January 29th total of 31,450 shares. Based on an average trading volume of 148,813 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.5% of the company’s shares are sold short. Currently, 0.5% of the company’s shares are sold short. Based on an average trading volume of 148,813 shares, the days-to-cover ratio is presently 0.9 days.

Hedge Funds Weigh In On First Trust Short Duration Managed Municipal ETF

A number of institutional investors have recently bought and sold shares of FSMB. Hazlett Burt & Watson Inc. purchased a new position in shares of First Trust Short Duration Managed Municipal ETF during the 3rd quarter worth approximately $26,000. Advisory Services Network LLC purchased a new stake in First Trust Short Duration Managed Municipal ETF in the third quarter worth $32,000. Evolution Wealth Management Inc. bought a new position in First Trust Short Duration Managed Municipal ETF in the second quarter worth $33,000. US Bancorp DE lifted 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 valued at $72,000 after buying an additional 815 shares during the period. Finally, Tucker Asset Management LLC bought a new stake in shares of First Trust Short Duration Managed Municipal ETF during the 4th quarter valued at $82,000.

First Trust Short Duration Managed Municipal ETF Stock Performance

Shares of NYSEARCA:FSMB opened at $20.21 on Thursday. First Trust Short Duration Managed Municipal ETF has a 1 year low of $19.47 and a 1 year high of $20.25. The stock’s 50-day moving average is $20.12 and its 200 day moving average is $20.08.

First Trust Short Duration Managed Municipal ETF Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be given a $0.053 dividend. This represents a c) annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, February 20th.

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.