First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Short Interest Up 17.6% in February

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) saw a large increase in short interest in February. As of February 27th, there was short interest totaling 158,351 shares, an increase of 17.6% from the February 12th total of 134,708 shares. Based on an average daily trading volume, of 220,133 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.6% of the company’s shares are sold short. Currently, 0.6% of the company’s shares are sold short. Based on an average daily trading volume, of 220,133 shares, the days-to-cover ratio is currently 0.7 days.

First Trust Short Duration Managed Municipal ETF Price Performance

NYSEARCA FSMB traded up $0.01 on Wednesday, reaching $20.12. The stock had a trading volume of 40,649 shares, compared to its average volume of 170,747. First Trust Short Duration Managed Municipal ETF has a 12-month low of $19.47 and a 12-month high of $20.25. The business’s 50-day moving average price is $20.15 and its 200 day moving average price is $20.10.

First Trust Short Duration Managed Municipal ETF Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 20th were issued a dividend of $0.053 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a c) dividend on an annualized basis and a yield of 3.2%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its position in shares of 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 worth $8,445,000 after purchasing an additional 15,155 shares during the last quarter. Jane Street Group LLC raised its stake in First Trust Short Duration Managed Municipal ETF by 205.2% during the first quarter. Jane Street Group LLC now owns 63,011 shares of the company’s stock valued at $1,252,000 after buying an additional 42,363 shares in the last quarter. AE Wealth Management LLC raised its stake in First Trust Short Duration Managed Municipal ETF by 39.0% during the second quarter. AE Wealth Management LLC now owns 16,550 shares of the company’s stock valued at $329,000 after buying an additional 4,640 shares in the last quarter. Cetera Investment Advisers grew its position in shares of First Trust Short Duration Managed Municipal ETF by 19.9% in the 2nd quarter. Cetera Investment Advisers now owns 190,924 shares of the company’s stock worth $3,800,000 after acquiring an additional 31,698 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of First Trust Short Duration Managed Municipal ETF by 46.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 245,974 shares of the company’s stock worth $4,896,000 after acquiring an additional 78,417 shares in the last quarter.

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.