First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Sees Large Volume Increase – Still a Buy?

Shares of First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) saw strong trading volume on Friday. 142,947 shares were traded during mid-day trading, a decline of 10% from the previous session’s volume of 158,415 shares. The stock last traded at $19.5750 and had previously closed at $19.52.

First Trust Short Duration Managed Municipal ETF Price Performance

The business has a fifty day moving average of $19.81 and a 200-day moving average of $19.93.

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

Several institutional investors have recently made changes to their positions in FSMB. Legacy Wealth Managment LLC ID raised its holdings in 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 worth $53,000 after acquiring an additional 2,370 shares during the period. Harbour Investments Inc. increased its position in shares of First Trust Short Duration Managed Municipal ETF by 47.9% during the fourth quarter. Harbour Investments Inc. now owns 7,690 shares of the company’s stock valued at $154,000 after purchasing an additional 2,490 shares during the period. EdgeRock Capital LLC acquired a new position in shares of First Trust Short Duration Managed Municipal ETF in the first quarter valued at $211,000. CoreCap Advisors LLC lifted its position in First Trust Short Duration Managed Municipal ETF by 31.5% in the second quarter. CoreCap Advisors LLC now owns 12,017 shares of the company’s stock worth $240,000 after purchasing an additional 2,876 shares during the period. Finally, Brookstone Capital Management bought a new position in First Trust Short Duration Managed Municipal ETF in the first quarter worth $243,000.

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.