First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Sees Large Volume Increase – Here’s What Happened

Shares of First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) saw unusually-high trading volume on Friday . 182,554 shares traded hands during trading, an increase of 25% from the previous session’s volume of 146,590 shares.The stock last traded at $19.86 and had previously closed at $19.81.

First Trust Short Duration Managed Municipal ETF Price Performance

The firm’s 50-day moving average is $19.98 and its 200-day moving average is $20.05.

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

A number of large investors have recently modified their holdings of FSMB. Advisory Services Network LLC purchased a new stake in First Trust Short Duration Managed Municipal ETF in the third quarter worth approximately $32,000. Legacy Wealth Managment LLC ID raised its stake in shares of First Trust Short Duration Managed Municipal ETF by 800.7% during the first quarter. Legacy Wealth Managment LLC ID now owns 2,666 shares of the company’s stock worth $53,000 after acquiring an additional 2,370 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in shares of First Trust Short Duration Managed Municipal ETF by 111.5% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 2,750 shares of the company’s stock worth $55,000 after acquiring an additional 1,450 shares during the last quarter. US Bancorp DE lifted its holdings in shares of First Trust Short Duration Managed Municipal ETF by 29.4% in the 3rd quarter. US Bancorp DE now owns 3,584 shares of the company’s stock worth $72,000 after acquiring an additional 815 shares during the last quarter. Finally, Tucker Asset Management LLC purchased a new stake in shares of First Trust Short Duration Managed Municipal ETF in the 4th quarter valued at $82,000.

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.