First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Sets New 12-Month Low – What’s Next?

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) reached a new 52-week low during trading on Wednesday . The company traded as low as $19.80 and last traded at $19.8150, with a volume of 47330 shares trading hands. The stock had previously closed at $19.84.

First Trust Short Duration Managed Municipal ETF Price Performance

The firm has a 50 day moving average price of $19.92 and a two-hundred day moving average price of $19.99.

Institutional Trading of First Trust Short Duration Managed Municipal ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FSMB. Capital Financial Group Inc. Co. ADV raised its holdings in First Trust Short Duration Managed Municipal ETF by 1.6% during the 1st 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 last quarter. Concurrent Investment Advisors LLC lifted its position in shares of First Trust Short Duration Managed Municipal ETF by 1.5% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 40,125 shares of the company’s stock worth $802,000 after purchasing an additional 595 shares during the period. US Bancorp DE lifted its position in shares of First Trust Short Duration Managed Municipal ETF by 29.4% in the 3rd quarter. US Bancorp DE now owns 3,584 shares of the company’s stock worth $72,000 after purchasing an additional 815 shares during the period. Private Advisor Group LLC boosted its stake in shares of 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 valued at $902,000 after purchasing an additional 1,360 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of 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 valued at $55,000 after purchasing an additional 1,450 shares during the last quarter.

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.