First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Short Interest Up 328.5% in August

First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 124,612 shares, a growth of 328.5% from the August 15th total of 29,078 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily trading volume, of 44,264 shares, the days-to-cover ratio is presently 2.8 days.

Institutional Investors Weigh In On First Trust Ultra Short Duration Municipal ETF

A number of institutional investors have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new position in shares of First Trust Ultra Short Duration Municipal ETF during the second quarter valued at $29,000. Tucker Asset Management LLC bought a new position in First Trust Ultra Short Duration Municipal ETF during the 4th quarter valued at about $41,000. IMG Wealth Management Inc. grew its stake in shares of First Trust Ultra Short Duration Municipal ETF by 96.4% in the first quarter. IMG Wealth Management Inc. now owns 2,712 shares of the company’s stock worth $54,000 after acquiring an additional 1,331 shares during the period. Advisory Services Network LLC purchased a new position in shares of First Trust Ultra Short Duration Municipal ETF during the third quarter valued at approximately $77,000. Finally, CoreCap Advisors LLC lifted its position in First Trust Ultra Short Duration Municipal ETF by 30.6% during the second quarter. CoreCap Advisors LLC now owns 7,894 shares of the company’s stock valued at $158,000 after purchasing an additional 1,849 shares during the period.

First Trust Ultra Short Duration Municipal ETF Trading Down 0.0%

First Trust Ultra Short Duration Municipal ETF stock traded down $0.01 during mid-day trading on Friday, hitting $20.03. The company had a trading volume of 70,421 shares, compared to its average volume of 80,640. First Trust Ultra Short Duration Municipal ETF has a 12 month low of $19.98 and a 12 month high of $20.72. The stock’s 50 day moving average price is $20.06 and its two-hundred day moving average price is $20.07.

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.