First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Sees Strong Trading Volume – Here’s What Happened

Shares of First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) saw strong trading volume on Friday . Approximately 182,554 shares were traded during mid-day trading, an increase of 25% from the previous session’s volume of 146,590 shares.The stock last traded at $19.86 and had previously closed at $19.81.

First Trust Short Duration Managed Municipal ETF Stock Performance

The firm’s 50-day simple moving average is $19.98 and its 200-day simple moving average is $20.05.

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

Several institutional investors have recently bought and sold shares of FSMB. Capital Financial Group Inc. Co. ADV increased its position in First Trust Short Duration Managed Municipal ETF by 1.6% during the first quarter. Capital Financial Group Inc. Co. ADV now owns 30,900 shares of the company’s stock valued at $617,000 after acquiring an additional 500 shares during the last quarter. Capital Investment Advisory Services LLC raised its stake in First Trust Short Duration Managed Municipal ETF by 3.2% during the 4th quarter. Capital Investment Advisory Services LLC now owns 19,729 shares of the company’s stock worth $395,000 after acquiring an additional 612 shares during the period. US Bancorp DE lifted its holdings in First Trust Short Duration Managed Municipal ETF by 29.4% during the third quarter. US Bancorp DE now owns 3,584 shares of the company’s stock valued at $72,000 after purchasing an additional 815 shares in the last quarter. Private Advisor Group LLC lifted its holdings in First Trust Short Duration Managed Municipal ETF by 3.1% during the first quarter. Private Advisor Group LLC now owns 45,205 shares of the company’s stock valued at $902,000 after purchasing an additional 1,360 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its position in shares of First Trust Short Duration Managed Municipal ETF by 111.5% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,750 shares of the company’s stock worth $55,000 after purchasing an additional 1,450 shares during the period.

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.