First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Sees Significant Decline in Short Interest

First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 64,705 shares, a decrease of 48.1% from the August 31st total of 124,612 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 99,547 shares, the days-to-cover ratio is presently 0.6 days.

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

Hedge funds and other institutional investors have recently bought and sold shares of the business. XML Financial LLC boosted its stake in First Trust Ultra Short Duration Municipal ETF by 10.4% in the first quarter. XML Financial LLC now owns 526,024 shares of the company’s stock worth $10,547,000 after purchasing an additional 49,726 shares in the last quarter. Gateway Wealth Partners LLC increased its stake in shares of First Trust Ultra Short Duration Municipal ETF by 107.1% in the first quarter. Gateway Wealth Partners LLC now owns 260,066 shares of the company’s stock valued at $5,214,000 after buying an additional 134,492 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of First Trust Ultra Short Duration Municipal ETF by 3.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 223,399 shares of the company’s stock valued at $4,481,000 after buying an additional 7,271 shares during the last quarter. Kestra Private Wealth Services LLC raised its holdings in shares of First Trust Ultra Short Duration Municipal ETF by 8.3% in the first quarter. Kestra Private Wealth Services LLC now owns 148,742 shares of the company’s stock valued at $2,982,000 after buying an additional 11,342 shares during the last quarter. Finally, J.W. Cole Advisors Inc. lifted its position in First Trust Ultra Short Duration Municipal ETF by 0.9% during the 4th quarter. J.W. Cole Advisors Inc. now owns 145,301 shares of the company’s stock worth $2,915,000 after buying an additional 1,339 shares in the last quarter.

First Trust Ultra Short Duration Municipal ETF Stock Performance

Shares of NYSEARCA FUMB traded up $0.02 during mid-day trading on Thursday, hitting $19.92. 399,322 shares of the stock were exchanged, compared to its average volume of 89,662. The stock’s fifty day simple moving average is $20.03 and its two-hundred day simple moving average is $20.06. First Trust Ultra Short Duration Municipal ETF has a twelve month low of $19.88 and a twelve month high of $20.72.

About First Trust Ultra Short Duration Municipal ETF

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.