First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Sets New 1-Year Low – Time to Sell?

Shares of First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) hit a new 52-week low on Wednesday . The stock traded as low as $19.80 and last traded at $19.8150, with a volume of 47330 shares traded. The stock had previously closed at $19.84.

First Trust Short Duration Managed Municipal ETF Trading Down 0.4%

The company’s fifty day simple moving average is $19.91 and its 200-day simple moving average is $19.99.

Hedge Funds Weigh In On First Trust Short Duration Managed Municipal ETF

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in First Trust Short Duration Managed Municipal ETF by 3.7% during the first quarter. Royal Bank of Canada now owns 424,996 shares of the company’s stock valued at $8,445,000 after acquiring an additional 15,155 shares during the last quarter. Jane Street Group LLC raised its position in shares of First Trust Short Duration Managed Municipal ETF by 205.2% in the 1st quarter. Jane Street Group LLC now owns 63,011 shares of the company’s stock valued at $1,252,000 after purchasing an additional 42,363 shares during the last quarter. JPMorgan Chase & Co. increased its stake in First Trust Short Duration Managed Municipal ETF by 46.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 245,974 shares of the company’s stock valued at $4,896,000 after purchasing an additional 78,417 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of First Trust Short Duration Managed Municipal ETF by 12.8% during the second quarter. NewEdge Advisors LLC now owns 417,780 shares of the company’s stock valued at $8,316,000 after buying an additional 47,538 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its position in First Trust Short Duration Managed Municipal ETF by 3.1% during the 2nd quarter. Raymond James Financial Inc. now owns 1,751,968 shares of the company’s stock worth $34,873,000 after acquiring an additional 53,489 shares during the period.

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.