Envestnet Asset Management Inc. Boosts Stake in First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB)

Envestnet Asset Management Inc. lifted its stake in First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) by 4.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 405,680 shares of the company’s stock after purchasing an additional 17,792 shares during the quarter. Envestnet Asset Management Inc. owned about 1.80% of First Trust Short Duration Managed Municipal ETF worth $8,061,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. increased its stake in First Trust Short Duration Managed Municipal ETF by 20.7% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 118,285 shares of the company’s stock worth $2,350,000 after buying an additional 20,322 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its stake in First Trust Short Duration Managed Municipal ETF by 200.9% in the first quarter. Dynamic Advisor Solutions LLC now owns 47,828 shares of the company’s stock worth $950,000 after purchasing an additional 31,935 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in First Trust Short Duration Managed Municipal ETF by 9.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 37,672 shares of the company’s stock worth $747,000 after purchasing an additional 3,143 shares during the last quarter. Wells Fargo & Company MN lifted its stake in First Trust Short Duration Managed Municipal ETF by 8.0% in the fourth quarter. Wells Fargo & Company MN now owns 210,015 shares of the company’s stock worth $4,167,000 after purchasing an additional 15,494 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of First Trust Short Duration Managed Municipal ETF during the fourth quarter valued at approximately $410,000.

First Trust Short Duration Managed Municipal ETF Price Performance

Shares of FSMB stock opened at $19.95 on Tuesday. The company’s 50 day moving average is $19.87 and its 200 day moving average is $19.85. First Trust Short Duration Managed Municipal ETF has a 52-week low of $19.47 and a 52-week high of $20.11.

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.