First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Shares Shorted: Short Interest Up 260.8% in September

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 85,925 shares, an increase of 260.8% from the August 31st total of 23,814 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 287,974 shares, the short-interest ratio is currently 0.3 days.

First Trust Short Duration Managed Municipal ETF Stock Performance

FSMB stock opened at $19.48 on Monday. The business has a 50-day moving average price of $19.84 and a 200 day moving average price of $19.95. First Trust Short Duration Managed Municipal ETF has a 1-year low of $19.46 and a 1-year high of $20.25.

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

Several large investors have recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. boosted its stake in shares of First Trust Short Duration Managed Municipal ETF by 5.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 103,456 shares of the company’s stock valued at $2,068,000 after purchasing an additional 5,428 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in First Trust Short Duration Managed Municipal ETF by 3.1% during the second quarter. Envestnet Asset Management Inc. now owns 389,403 shares of the company’s stock valued at $7,784,000 after buying an additional 11,572 shares during the period. Integrated Wealth Concepts LLC bought a new position in First Trust Short Duration Managed Municipal ETF in the second quarter worth approximately $252,000. RFG Advisory LLC raised its stake in First Trust Short Duration Managed Municipal ETF by 11.1% in the second quarter. RFG Advisory LLC now owns 133,263 shares of the company’s stock worth $2,664,000 after buying an additional 13,355 shares in the last quarter. Finally, Waverly Advisors LLC purchased a new stake in First Trust Short Duration Managed Municipal ETF during the second quarter worth $14,032,000.

First Trust Short Duration Managed Municipal ETF Company Profile

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.