First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Sees Large Increase in Short Interest

First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totaling 25,477 shares, an increase of 137.7% from the April 30th total of 10,716 shares. Based on an average trading volume of 84,385 shares, the short-interest ratio is presently 0.3 days. Currently, 0.2% of the company’s stock are short sold.

First Trust Ultra Short Duration Municipal ETF Price Performance

First Trust Ultra Short Duration Municipal ETF stock remained flat at $20.05 during mid-day trading on Monday. 95,347 shares of the company’s stock traded hands, compared to its average volume of 95,523. First Trust Ultra Short Duration Municipal ETF has a 52-week low of $20.01 and a 52-week high of $20.72. The business has a fifty day moving average price of $20.06 and a 200 day moving average price of $20.08.

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

Several hedge funds have recently bought and sold shares of FUMB. Newbridge Financial Services Group Inc. acquired a new position in First Trust Ultra Short Duration Municipal ETF during the second quarter worth $29,000. Tucker Asset Management LLC acquired a new position in First Trust Ultra Short Duration Municipal ETF during the fourth quarter worth $41,000. IMG Wealth Management Inc. increased its position in 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 worth $54,000 after buying an additional 1,331 shares during the last quarter. Advisory Services Network LLC acquired a new position in First Trust Ultra Short Duration Municipal ETF during the third quarter worth $77,000. Finally, CoreCap Advisors LLC increased its position in First Trust Ultra Short Duration Municipal ETF by 250.6% during the fourth quarter. CoreCap Advisors LLC now owns 4,445 shares of the company’s stock worth $89,000 after buying an additional 3,177 shares during the last quarter.

About First Trust Ultra Short Duration Municipal ETF

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.