First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Sets New 1-Year Low – Here’s What Happened

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $19.71 and last traded at $19.7150, with a volume of 90921 shares changing hands. The stock had previously closed at $19.73.

First Trust Short Duration Managed Municipal ETF Stock Performance

The company has a 50 day moving average price of $19.89 and a 200 day moving average price of $19.97.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Capital Financial Group Inc. Co. ADV raised its holdings in shares of First Trust Short Duration Managed Municipal ETF by 1.6% in the 1st quarter. Capital Financial Group Inc. Co. ADV now owns 30,900 shares of the company’s stock worth $617,000 after purchasing an additional 500 shares in the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of First Trust Short Duration Managed Municipal ETF by 1.5% in the second quarter. Concurrent Investment Advisors LLC now owns 40,125 shares of the company’s stock valued at $802,000 after buying an additional 595 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of First Trust Short Duration Managed Municipal ETF by 3.1% during the 1st quarter. Private Advisor Group LLC now owns 45,205 shares of the company’s stock valued at $902,000 after acquiring an additional 1,360 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its position in shares of First Trust Short Duration Managed Municipal ETF by 111.5% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 2,750 shares of the company’s stock valued at $55,000 after acquiring an additional 1,450 shares during the last quarter. Finally, Insight Inv LLC lifted its position in shares of First Trust Short Duration Managed Municipal ETF by 1.7% during the 4th quarter. Insight Inv LLC now owns 88,235 shares of the company’s stock valued at $1,769,000 after acquiring an additional 1,500 shares during the last quarter.

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.