First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Sees Large Drop in Short Interest

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) was the target of a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 11,100 shares, a decrease of 82.2% from the July 15th total of 62,475 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 94,070 shares, the short-interest ratio is currently 0.1 days.

First Trust Short Duration Managed Municipal ETF Price Performance

FSMB stock opened at $19.95 on Wednesday. The stock has a 50-day moving average price of $19.97 and a two-hundred day moving average price of $20.03. First Trust Short Duration Managed Municipal ETF has a 12-month low of $19.80 and a 12-month high of $20.25.

Institutional Trading of First Trust Short Duration Managed Municipal ETF

A number of institutional investors have recently modified their holdings of FSMB. Morgan Stanley raised its holdings in First Trust Short Duration Managed Municipal ETF by 0.4% in the fourth quarter. Morgan Stanley now owns 4,412,903 shares of the company’s stock valued at $88,457,000 after buying an additional 16,783 shares during the period. Raymond James Financial Inc. grew its stake in First Trust Short Duration Managed Municipal ETF by 3.1% during the second quarter. Raymond James Financial Inc. now owns 1,751,968 shares of the company’s stock worth $34,873,000 after buying an additional 53,489 shares during the period. Corient Private Wealth LLC increased its position in shares of First Trust Short Duration Managed Municipal ETF by 3.0% in the fourth quarter. Corient Private Wealth LLC now owns 1,225,195 shares of the company’s stock worth $24,559,000 after acquiring an additional 35,272 shares in the last quarter. RMR Wealth Builders increased its position in shares of First Trust Short Duration Managed Municipal ETF by 8.4% in the fourth quarter. RMR Wealth Builders now owns 1,023,222 shares of the company’s stock worth $20,510,000 after acquiring an additional 79,371 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in shares of First Trust Short Duration Managed Municipal ETF by 5.5% in the fourth quarter. HighTower Advisors LLC now owns 880,016 shares of the company’s stock worth $17,640,000 after acquiring an additional 46,213 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.