Short Interest in First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Decreases By 37.5%

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) saw a significant drop in short interest in the month of May. As of May 15th, there was short interest totaling 26,781 shares, a drop of 37.5% from the April 30th total of 42,861 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 95,471 shares, the short-interest ratio is currently 0.3 days.

First Trust Short Duration Managed Municipal ETF Stock Performance

NYSEARCA:FSMB opened at $20.00 on Wednesday. The business’s 50-day simple moving average is $19.98 and its 200 day simple moving average is $20.06. First Trust Short Duration Managed Municipal ETF has a one year low of $19.81 and a one year high of $20.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers lifted its stake in shares of First Trust Short Duration Managed Municipal ETF by 157.3% in the 1st quarter. Cetera Investment Advisers now owns 551,996 shares of the company’s stock worth $11,018,000 after acquiring an additional 337,466 shares during the period. TrueWealth Financial Partners acquired a new stake in shares of First Trust Short Duration Managed Municipal ETF in the 4th quarter worth approximately $4,044,000. Gateway Wealth Partners LLC lifted its stake in shares of First Trust Short Duration Managed Municipal ETF by 102.7% in the 1st quarter. Gateway Wealth Partners LLC now owns 234,040 shares of the company’s stock worth $4,671,000 after acquiring an additional 118,592 shares during the period. Pursuit Wealth Management LLC bought a new stake in shares of First Trust Short Duration Managed Municipal ETF in the 4th quarter worth approximately $2,170,000. Finally, MGO One Seven LLC bought a new stake in shares of First Trust Short Duration Managed Municipal ETF in the 4th quarter worth approximately $1,772,000.

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.