First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Stock Short Interest Declines 61.6%

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 52,596 shares, a decline of 61.6% from the September 30th total of 137,031 shares. Based on an average daily volume of 358,632 shares, the short-interest ratio is currently 0.1 days. Currently, 0.2% of the shares of the company are short sold.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the company. XML Financial LLC bought a new position in First Trust Short Duration Managed Municipal ETF during the second quarter worth about $10,381,000. Waverly Advisors LLC bought a new stake in First Trust Short Duration Managed Municipal ETF in the 2nd quarter valued at about $14,032,000. Fifth Third Bancorp bought a new stake in First Trust Short Duration Managed Municipal ETF in the 1st quarter valued at about $1,735,000. Cetera Investment Advisers grew its position in shares of First Trust Short Duration Managed Municipal ETF by 157.3% during the 1st quarter. Cetera Investment Advisers now owns 551,996 shares of the company’s stock worth $11,018,000 after purchasing an additional 337,466 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of First Trust Short Duration Managed Municipal ETF by 8.9% during the 1st quarter. NewEdge Advisors LLC now owns 531,145 shares of the company’s stock worth $10,602,000 after purchasing an additional 43,529 shares in the last quarter.

First Trust Short Duration Managed Municipal ETF Stock Performance

Shares of FSMB stock traded up $0.01 during midday trading on Friday, hitting $19.77. 45,540 shares of the company were exchanged, compared to its average volume of 169,646. First Trust Short Duration Managed Municipal ETF has a 52 week low of $19.36 and a 52 week high of $20.25. The firm’s 50 day moving average price is $19.68 and its two-hundred day moving average price is $19.94.

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.