First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Short Interest Update

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) was the recipient of a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 109,209 shares, a drop of 31.0% from the February 26th total of 158,351 shares. Based on an average daily trading volume, of 128,432 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.4% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FSMB. Hazlett Burt & Watson Inc. bought a new stake in shares of First Trust Short Duration Managed Municipal ETF during the 3rd quarter worth $26,000. Advisory Services Network LLC bought a new position in First Trust Short Duration Managed Municipal ETF in the 3rd quarter valued at $32,000. Evolution Wealth Management Inc. bought a new position in First Trust Short Duration Managed Municipal ETF in the 2nd quarter worth about $33,000. US Bancorp DE lifted its holdings in shares of First Trust Short Duration Managed Municipal ETF by 29.4% during the 3rd quarter. US Bancorp DE now owns 3,584 shares of the company’s stock worth $72,000 after acquiring an additional 815 shares during the last quarter. Finally, Tucker Asset Management LLC bought a new position in shares of First Trust Short Duration Managed Municipal ETF during the 4th quarter valued at about $82,000.

First Trust Short Duration Managed Municipal ETF Price Performance

FSMB stock remained flat at $19.92 during midday trading on Friday. The company had a trading volume of 183,370 shares, compared to its average volume of 164,155. The firm has a 50 day moving average of $20.14 and a two-hundred day moving average of $20.09. First Trust Short Duration Managed Municipal ETF has a twelve month low of $19.47 and a twelve month high of $20.25.

First Trust Short Duration Managed Municipal ETF Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 20th were paid a $0.053 dividend. This represents a c) annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, February 20th.

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.