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

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) was the target of a significant decline in short interest in January. As of January 30th, there was short interest totaling 31,450 shares, a decline of 55.2% from the January 15th total of 70,185 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 183,832 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 183,832 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Occidental Asset Management LLC lifted its holdings in shares of First Trust Short Duration Managed Municipal ETF by 1.1% in the fourth quarter. Occidental Asset Management LLC now owns 46,036 shares of the company’s stock worth $923,000 after acquiring an additional 500 shares during the last quarter. Summit Wealth Partners LLC increased its position in First Trust Short Duration Managed Municipal ETF by 2.2% during the 3rd quarter. Summit Wealth Partners LLC now owns 23,394 shares of the company’s stock worth $470,000 after purchasing an additional 510 shares in the last quarter. Sowell Financial Services LLC grew its stake in shares of First Trust Short Duration Managed Municipal ETF by 0.4% during the third quarter. Sowell Financial Services LLC now owns 117,734 shares of the company’s stock worth $2,364,000 after buying an additional 514 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of First Trust Short Duration Managed Municipal ETF by 0.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 118,889 shares of the company’s stock worth $2,366,000 after buying an additional 604 shares in the last quarter. Finally, Capital Investment Advisory Services LLC lifted its stake in shares of First Trust Short Duration Managed Municipal ETF by 3.2% in the 4th quarter. Capital Investment Advisory Services LLC now owns 19,729 shares of the company’s stock valued at $395,000 after acquiring an additional 612 shares during the last quarter.

First Trust Short Duration Managed Municipal ETF Price Performance

FSMB stock traded up $0.02 during mid-day trading on Thursday, hitting $20.23. The stock had a trading volume of 108,822 shares, compared to its average volume of 180,159. The firm has a fifty day simple moving average of $20.08 and a 200 day simple moving average of $20.07. First Trust Short Duration Managed Municipal ETF has a 52 week low of $19.47 and a 52 week high of $20.23.

First Trust Short Duration Managed Municipal ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, January 21st were paid a $0.053 dividend. This represents a c) annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Wednesday, January 21st. This is a positive change from First Trust Short Duration Managed Municipal ETF’s previous monthly dividend of $0.05.

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.