First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Sees Significant Increase in Short Interest

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) was the recipient of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 134,708 shares, a growth of 328.3% from the January 29th total of 31,450 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average daily trading volume, of 148,813 shares, the short-interest ratio is presently 0.9 days. Based on an average daily trading volume, of 148,813 shares, the short-interest ratio is presently 0.9 days. Currently, 0.5% of the shares of the company are short sold.

First Trust Short Duration Managed Municipal ETF Stock Performance

Shares of FSMB stock opened at $20.22 on Friday. First Trust Short Duration Managed Municipal ETF has a 1 year low of $19.47 and a 1 year high of $20.25. The stock has a 50 day simple moving average of $20.13 and a 200 day simple moving average of $20.09.

First Trust Short Duration Managed Municipal ETF Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 20th were paid a dividend of $0.053 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a c) annualized dividend and a yield of 3.1%.

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

Institutional investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC grew its stake in shares of First Trust Short Duration Managed Municipal ETF by 3.0% during the fourth quarter. Corient Private Wealth LLC now owns 1,225,195 shares of the company’s stock worth $24,559,000 after buying an additional 35,272 shares during the last quarter. NewEdge Advisors LLC increased its holdings in First Trust Short Duration Managed Municipal ETF by 10.4% in the 4th quarter. NewEdge Advisors LLC now owns 487,616 shares of the company’s stock worth $9,774,000 after purchasing an additional 45,972 shares in the last quarter. Cetera Investment Advisers raised its position in First Trust Short Duration Managed Municipal ETF by 4.0% in the fourth quarter. Cetera Investment Advisers now owns 214,530 shares of the company’s stock valued at $4,300,000 after purchasing an additional 8,335 shares during the last quarter. Equitable Holdings Inc. boosted its stake in shares of First Trust Short Duration Managed Municipal ETF by 3.3% during the fourth quarter. Equitable Holdings Inc. now owns 80,979 shares of the company’s stock valued at $1,623,000 after purchasing an additional 2,617 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of First Trust Short Duration Managed Municipal ETF by 1,541.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 57,463 shares of the company’s stock worth $1,152,000 after purchasing an additional 53,963 shares during the last quarter.

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.