First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Sees Strong Trading Volume – What’s Next?

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) shares saw unusually-high trading volume on Wednesday . Approximately 577,426 shares changed hands during trading, an increase of 285% from the previous session’s volume of 150,005 shares.The stock last traded at $19.61 and had previously closed at $19.69.

First Trust Short Duration Managed Municipal ETF Trading Down 0.4%

The company’s 50-day simple moving average is $19.87 and its 200-day simple moving average is $19.96.

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

A number of hedge funds have recently bought and sold shares of the business. Capital Financial Group Inc. Co. ADV boosted its position in 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 worth $617,000 after purchasing an additional 500 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of 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 valued at $802,000 after buying an additional 595 shares in the last quarter. Private Advisor Group LLC boosted its holdings in 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. Hazlett Burt & Watson Inc. boosted its holdings in 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. Finally, Genesis Private Wealth LLC grew its stake in First Trust Short Duration Managed Municipal ETF by 2.4% in the 1st quarter. Genesis Private Wealth LLC now owns 72,668 shares of the company’s stock valued at $1,450,000 after buying an additional 1,679 shares in the last quarter.

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.