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

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) saw a large 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 currently 0.3 days. Currently, 0.1% of the shares of the company are short sold.

First Trust Short Duration Managed Municipal ETF Price Performance

NYSEARCA:FSMB opened at $20.02 on Thursday. First Trust Short Duration Managed Municipal ETF has a 12-month low of $19.83 and a 12-month high of $20.25. The stock’s 50 day simple moving average is $19.98 and its 200-day simple moving average is $20.06.

Institutional Trading of First Trust Short Duration Managed Municipal ETF

Several hedge funds have recently made changes to their positions in the company. Hazlett Burt & Watson Inc. acquired a new stake in First Trust Short Duration Managed Municipal ETF in the third quarter valued at about $26,000. Advisory Services Network LLC acquired a new position in First Trust Short Duration Managed Municipal ETF during the 3rd quarter worth approximately $32,000. Legacy Wealth Managment LLC ID raised its stake in shares of First Trust Short Duration Managed Municipal ETF by 800.7% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 2,666 shares of the company’s stock worth $53,000 after buying an additional 2,370 shares in the last quarter. US Bancorp DE raised its stake in shares of 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 worth $72,000 after buying an additional 815 shares in the last quarter. Finally, Tucker Asset Management LLC acquired a new stake in shares of First Trust Short Duration Managed Municipal ETF in the 4th quarter valued at approximately $82,000.

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.