First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Sees Significant Growth in Short Interest

First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) saw a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 146,451 shares, an increase of 8,586.3% from the February 26th total of 1,686 shares. Based on an average daily volume of 130,192 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.2% of the company’s stock are sold short. Approximately 1.2% of the company’s stock are sold short. Based on an average daily volume of 130,192 shares, the days-to-cover ratio is currently 1.1 days.

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

Several large investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. acquired a new stake in shares of First Trust Ultra Short Duration Municipal ETF during the 2nd quarter worth about $29,000. Tucker Asset Management LLC purchased a new position in First Trust Ultra Short Duration Municipal ETF during the 4th quarter worth approximately $41,000. Advisory Services Network LLC acquired a new position in First Trust Ultra Short Duration Municipal ETF during the third quarter worth approximately $77,000. CoreCap Advisors LLC boosted its stake in First Trust Ultra Short Duration Municipal ETF by 250.6% during the 4th quarter. CoreCap Advisors LLC now owns 4,445 shares of the company’s stock worth $89,000 after purchasing an additional 3,177 shares during the period. Finally, AE Wealth Management LLC acquired a new stake in shares of First Trust Ultra Short Duration Municipal ETF during the third quarter worth about $103,000.

First Trust Ultra Short Duration Municipal ETF Price Performance

Shares of NYSEARCA:FUMB opened at $20.11 on Wednesday. First Trust Ultra Short Duration Municipal ETF has a fifty-two week low of $19.91 and a fifty-two week high of $20.72. The firm’s 50 day moving average price is $20.11 and its 200 day moving average price is $20.10.

First Trust Ultra Short Duration Municipal ETF Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 20th were given a dividend of $0.046 per share. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, February 20th.

About First Trust Ultra Short Duration Municipal ETF

The First Trust Ultra Short Duration Municipal ETF (FUMB) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund of US municipal debt with a targeted portfolio duration of less than one year. The fund seeks tax-exempt income and capital preservation. FUMB was launched on Nov 1, 2018 and is managed by First Trust.