First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Reaches New 1-Year Low – Here’s What Happened

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) shares reached a new 52-week low on Tuesday . The company traded as low as $19.70 and last traded at $19.7050, with a volume of 3220 shares changing hands. The stock had previously closed at $19.73.

First Trust Short Duration Managed Municipal ETF Price Performance

The company’s 50 day simple moving average is $19.88 and its 200 day simple moving average is $19.96.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Capital Financial Group Inc. Co. ADV increased its stake in shares of First Trust Short Duration Managed Municipal ETF by 1.6% in the 1st quarter. Capital Financial Group Inc. Co. ADV now owns 30,900 shares of the company’s stock worth $617,000 after purchasing an additional 500 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in First Trust Short Duration Managed Municipal ETF by 1.5% during the second quarter. Concurrent Investment Advisors LLC now owns 40,125 shares of the company’s stock valued at $802,000 after purchasing an additional 595 shares in the last quarter. Private Advisor Group LLC lifted its position in First Trust Short Duration Managed Municipal ETF by 3.1% during the first quarter. Private Advisor Group LLC now owns 45,205 shares of the company’s stock valued at $902,000 after purchasing an additional 1,360 shares in the last quarter. Hazlett Burt & Watson Inc. grew its holdings in First Trust Short Duration Managed Municipal ETF by 111.5% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,750 shares of the company’s stock valued at $55,000 after purchasing an additional 1,450 shares during the period. Finally, Genesis Private Wealth LLC grew its holdings in First Trust Short Duration Managed Municipal ETF by 2.4% during the first quarter. Genesis Private Wealth LLC now owns 72,668 shares of the company’s stock valued at $1,450,000 after purchasing an additional 1,679 shares during the period.

About First Trust Short Duration Managed Municipal ETF

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.