NewEdge Advisors LLC Lowers Position in First Trust Ultra Short Duration Municipal ETF $FUMB

NewEdge Advisors LLC decreased its position in First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) by 58.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 273,506 shares of the company’s stock after selling 387,351 shares during the quarter. NewEdge Advisors LLC’s holdings in First Trust Ultra Short Duration Municipal ETF were worth $5,484,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FUMB. Newbridge Financial Services Group Inc. purchased a new position in First Trust Ultra Short Duration Municipal ETF during the 2nd quarter valued at about $29,000. Tucker Asset Management LLC bought a new position in shares of First Trust Ultra Short Duration Municipal ETF during the fourth quarter valued at approximately $41,000. IMG Wealth Management Inc. lifted its holdings in shares of First Trust Ultra Short Duration Municipal ETF by 96.4% during the first quarter. IMG Wealth Management Inc. now owns 2,712 shares of the company’s stock valued at $54,000 after purchasing an additional 1,331 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of First Trust Ultra Short Duration Municipal ETF in the 3rd quarter worth approximately $77,000. Finally, Fifth Third Bancorp purchased a new stake in shares of First Trust Ultra Short Duration Municipal ETF in the 1st quarter worth approximately $190,000.

First Trust Ultra Short Duration Municipal ETF Trading Down 0.1%

Shares of NYSEARCA:FUMB opened at $20.06 on Wednesday. The stock has a fifty day simple moving average of $20.07 and a two-hundred day simple moving average of $20.08. First Trust Ultra Short Duration Municipal ETF has a 12-month low of $19.98 and a 12-month high of $20.72.

First Trust Ultra Short Duration Municipal ETF Profile

The First Trust Ultra Short Duration Municipal ETF (FUMB) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund of US municipal debt with a targeted portfolio duration of less than one year. The fund seeks tax-exempt income and capital preservation. FUMB was launched on Nov 1, 2018 and is managed by First Trust.