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

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 11,100 shares, a drop of 82.2% from the July 15th total of 62,475 shares. Based on an average daily volume of 94,070 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s stock are sold short.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC purchased a new position in First Trust Short Duration Managed Municipal ETF in 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 first quarter. Legacy Wealth Managment LLC ID now owns 2,666 shares of the company’s stock valued at $53,000 after purchasing an additional 2,370 shares during the period. Hazlett Burt & Watson Inc. lifted its position in shares of First Trust Short Duration Managed Municipal ETF by 111.5% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,750 shares of the company’s stock worth $55,000 after purchasing an additional 1,450 shares in the last quarter. US Bancorp DE lifted its position in shares of First Trust Short Duration Managed Municipal ETF by 29.4% during the third quarter. US Bancorp DE now owns 3,584 shares of the company’s stock worth $72,000 after purchasing an additional 815 shares in the last quarter. Finally, Tucker Asset Management LLC purchased a new position in shares of First Trust Short Duration Managed Municipal ETF in the fourth quarter valued at $82,000.

First Trust Short Duration Managed Municipal ETF Stock Performance

Shares of FSMB opened at $19.95 on Wednesday. First Trust Short Duration Managed Municipal ETF has a 12 month low of $19.80 and a 12 month high of $20.25. The stock’s 50-day moving average is $19.97 and its two-hundred day moving average is $20.03.

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.