Shares of First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB – Get Free Report) saw strong trading volume on Wednesday. Approximately 577,426 shares traded hands during mid-day trading, an increase of 285% from the previous session’s volume of 150,005 shares. The stock last traded at $19.61 and had previously closed at $19.69.
First Trust Short Duration Managed Municipal ETF Stock Performance
The business’s 50-day moving average price is $19.85 and its 200-day moving average price is $19.95.
Institutional Investors Weigh In On First Trust Short Duration Managed Municipal ETF
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Waverly Advisors LLC acquired a new position in shares of First Trust Short Duration Managed Municipal ETF during the second quarter worth $14,032,000. XML Financial LLC acquired a new stake in shares of First Trust Short Duration Managed Municipal ETF in the 2nd quarter worth $10,381,000. Cetera Investment Advisers increased its position in First Trust Short Duration Managed Municipal ETF by 157.3% during the 1st quarter. Cetera Investment Advisers now owns 551,996 shares of the company’s stock valued at $11,018,000 after buying an additional 337,466 shares in the last quarter. Gateway Wealth Partners LLC raised its stake in First Trust Short Duration Managed Municipal ETF by 102.7% in the first quarter. Gateway Wealth Partners LLC now owns 234,040 shares of the company’s stock valued at $4,671,000 after buying an additional 118,592 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new stake in First Trust Short Duration Managed Municipal ETF in the first quarter valued at about $1,735,000.
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.
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