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

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) was the target of a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 42,861 shares, an increase of 201.7% from the April 15th total of 14,206 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 151,130 shares, the short-interest ratio is currently 0.3 days.

First Trust Short Duration Managed Municipal ETF Stock Performance

Shares of NYSEARCA FSMB traded down $0.05 during midday trading on Friday, hitting $19.94. 65,691 shares of the company’s stock were exchanged, compared to its average volume of 154,772. The stock’s 50 day moving average price is $20.02 and its 200-day moving average price is $20.07. First Trust Short Duration Managed Municipal ETF has a twelve month low of $19.74 and a twelve month high of $20.25.

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

Several institutional investors have recently bought and sold shares of the stock. RMR Wealth Builders raised its holdings in First Trust Short Duration Managed Municipal ETF by 9.5% during the third quarter. RMR Wealth Builders now owns 943,851 shares of the company’s stock worth $18,953,000 after purchasing an additional 81,683 shares in the last quarter. Elequin Capital LP boosted its stake in First Trust Short Duration Managed Municipal ETF by 119.8% during the 3rd quarter. Elequin Capital LP now owns 52,583 shares of the company’s stock valued at $1,056,000 after purchasing an additional 28,655 shares in the last quarter. Pursuit Wealth Management LLC bought a new position in First Trust Short Duration Managed Municipal ETF during the 4th quarter valued at $2,170,000. Elevation Point Wealth Partners LLC bought a new position in First Trust Short Duration Managed Municipal ETF during the 3rd quarter valued at $1,437,000. Finally, Sigma Planning Corp bought a new position in First Trust Short Duration Managed Municipal ETF during the 4th quarter valued at $632,000.

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.