First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Sets New 12-Month Low – What’s Next?

Shares of First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) hit a new 52-week low on Wednesday . The company traded as low as $19.80 and last traded at $19.8150, with a volume of 47330 shares traded. The stock had previously closed at $19.84.

First Trust Short Duration Managed Municipal ETF Price Performance

The firm has a 50-day simple moving average of $19.92 and a 200 day simple moving average of $19.99.

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

A number of institutional investors have recently added to or reduced their stakes in FSMB. Advisory Services Network LLC acquired a new position in First Trust Short Duration Managed Municipal ETF in the 3rd quarter valued at approximately $32,000. Legacy Wealth Managment LLC ID grew its stake in shares of First Trust Short Duration Managed Municipal ETF by 800.7% in the first quarter. Legacy Wealth Managment LLC ID now owns 2,666 shares of the company’s stock worth $53,000 after purchasing an additional 2,370 shares during the last quarter. Hazlett Burt & Watson Inc. grew its stake in shares of First Trust Short Duration Managed Municipal ETF by 111.5% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,750 shares of the company’s stock worth $55,000 after purchasing an additional 1,450 shares during the last quarter. US Bancorp DE increased its holdings in First Trust Short Duration Managed Municipal ETF by 29.4% in the third quarter. US Bancorp DE now owns 3,584 shares of the company’s stock valued at $72,000 after purchasing an additional 815 shares during the period. Finally, Tucker Asset Management LLC acquired a new stake in First Trust Short Duration Managed Municipal ETF in the fourth 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.