First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Short Interest Up 50.5% in August

First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) was the recipient of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 29,078 shares, an increase of 50.5% from the July 30th total of 19,325 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 63,586 shares, the days-to-cover ratio is currently 0.5 days.

First Trust Ultra Short Duration Municipal ETF Price Performance

NYSEARCA FUMB traded down $0.03 during trading on Tuesday, reaching $20.03. The company’s stock had a trading volume of 29,501 shares, compared to its average volume of 80,789. The firm has a fifty day moving average of $20.06 and a 200 day moving average of $20.07. First Trust Ultra Short Duration Municipal ETF has a one year low of $19.98 and a one year high of $20.72.

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

Several institutional investors have recently modified their holdings of the company. Gateway Wealth Partners LLC grew its position in First Trust Ultra Short Duration Municipal ETF by 107.1% during the first quarter. Gateway Wealth Partners LLC now owns 260,066 shares of the company’s stock valued at $5,214,000 after acquiring an additional 134,492 shares during the last quarter. Royal Bank of Canada increased its position in shares of First Trust Ultra Short Duration Municipal ETF by 49.1% in the first quarter. Royal Bank of Canada now owns 331,310 shares of the company’s stock valued at $6,658,000 after acquiring an additional 109,110 shares during the period. Capital Financial Group Inc. Co. ADV purchased a new position in First Trust Ultra Short Duration Municipal ETF during the 4th quarter valued at about $1,687,000. White Wing Wealth Management purchased a new position in shares of First Trust Ultra Short Duration Municipal ETF during the second quarter valued at approximately $1,602,000. Finally, Wells Fargo & Company MN increased its position in First Trust Ultra Short Duration Municipal ETF by 12.2% during the 4th quarter. Wells Fargo & Company MN now owns 688,251 shares of the company’s stock valued at $13,806,000 after purchasing an additional 74,572 shares during the period.

First Trust Ultra Short Duration Municipal ETF Company Profile

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.