First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Hits New 1-Year Low – Time to Sell?

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $19.71 and last traded at $19.7150, with a volume of 90921 shares trading hands. The stock had previously closed at $19.73.

First Trust Short Duration Managed Municipal ETF Trading Down 0.1%

The stock’s fifty day moving average price is $19.90 and its 200-day moving average price is $19.98.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legacy Wealth Managment LLC ID lifted its stake in shares of First Trust Short Duration Managed Municipal ETF by 800.7% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 2,666 shares of the company’s stock valued at $53,000 after purchasing an additional 2,370 shares during the last quarter. Hazlett Burt & Watson Inc. raised its holdings in 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 valued at $55,000 after buying an additional 1,450 shares during the period. Tucker Asset Management LLC purchased a new stake in First Trust Short Duration Managed Municipal ETF in the 4th quarter valued at about $82,000. Harbour Investments Inc. raised its holdings in First Trust Short Duration Managed Municipal ETF by 47.9% in the 4th quarter. Harbour Investments Inc. now owns 7,690 shares of the company’s stock valued at $154,000 after buying an additional 2,490 shares during the period. Finally, EdgeRock Capital LLC acquired a new position in First Trust Short Duration Managed Municipal ETF in the first quarter valued at about $211,000.

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.