First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Stock Short Interest Climbs 136.0%

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) was the recipient of a large growth in short interest in October. As of October 30th, there was short interest totaling 124,117 shares, a growth of 136.0% from the October 15th total of 52,596 shares. Based on an average daily volume of 197,561 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.4% of the company’s stock are sold short.

First Trust Short Duration Managed Municipal ETF Price Performance

NYSEARCA FSMB traded down $0.04 during trading hours on Friday, hitting $19.76. 155,706 shares of the company were exchanged, compared to its average volume of 171,393. The company has a 50 day moving average of $19.67 and a two-hundred day moving average of $19.93. First Trust Short Duration Managed Municipal ETF has a 52-week low of $19.36 and a 52-week high of $20.25.

Hedge Funds Weigh In On First Trust Short Duration Managed Municipal ETF

Several hedge funds and other institutional investors have recently made changes to their positions in FSMB. Steward Partners Investment Advisory LLC increased its stake in shares of First Trust Short Duration Managed Municipal ETF by 10.4% during the third quarter. Steward Partners Investment Advisory LLC now owns 70,452 shares of the company’s stock worth $1,371,000 after buying an additional 6,659 shares during the period. Benjamin Edwards Inc. purchased a new position in First Trust Short Duration Managed Municipal ETF in the third quarter worth approximately $438,000. Private Advisor Group LLC acquired a new position in First Trust Short Duration Managed Municipal ETF during the 3rd quarter worth approximately $1,053,000. HighTower Advisors LLC acquired a new position in First Trust Short Duration Managed Municipal ETF during the 3rd quarter worth approximately $17,973,000. Finally, Harbour Investments Inc. acquired a new position in First Trust Short Duration Managed Municipal ETF during the 3rd quarter worth approximately $576,000.

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.