Short Interest in First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Expands By 137.7%

First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) was the target of a large 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. Currently, 0.2% of the company’s shares are short sold. Based on an average trading volume of 84,385 shares, the days-to-cover ratio is currently 0.3 days.

First Trust Ultra Short Duration Municipal ETF Stock Up 0.1%

Shares of NYSEARCA:FUMB traded up $0.02 during mid-day trading on Friday, hitting $20.05. The stock had a trading volume of 514,276 shares, compared to its average volume of 95,526. First Trust Ultra Short Duration Municipal ETF has a 12-month low of $20.01 and a 12-month high of $20.72. The company’s 50 day moving average is $20.06 and its 200-day moving average is $20.08.

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

Hedge funds have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new stake in First Trust Ultra Short Duration Municipal ETF in the 2nd quarter worth approximately $29,000. Tucker Asset Management LLC purchased a new stake in First Trust Ultra Short Duration Municipal ETF in the 4th quarter worth approximately $41,000. IMG Wealth Management Inc. lifted its position in First Trust Ultra Short Duration Municipal ETF by 96.4% in the 1st 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 in the last quarter. Advisory Services Network LLC purchased a new stake in First Trust Ultra Short Duration Municipal ETF in the 3rd quarter worth approximately $77,000. Finally, CoreCap Advisors LLC lifted its position in First Trust Ultra Short Duration Municipal ETF by 250.6% in the 4th quarter. CoreCap Advisors LLC now owns 4,445 shares of the company’s stock worth $89,000 after buying an additional 3,177 shares in the last quarter.

First Trust Ultra Short Duration Municipal ETF Company Profile

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.