First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Sees Large Decline in Short Interest

First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) saw a significant drop in short interest in February. As of February 13th, there was short interest totaling 16,543 shares, a drop of 16.3% from the January 29th total of 19,770 shares. Based on an average daily volume of 80,024 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are sold short. Currently, 0.1% of the company’s stock are sold short. Based on an average daily volume of 80,024 shares, the days-to-cover ratio is presently 0.2 days.

First Trust Ultra Short Duration Municipal ETF Price Performance

Shares of First Trust Ultra Short Duration Municipal ETF stock remained flat at $20.09 on Wednesday. 408,365 shares of the stock were exchanged, compared to its average volume of 95,244. 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 has a 52-week low of $19.91 and a 52-week high of $20.72.

First Trust Ultra Short Duration Municipal ETF Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend was Friday, February 20th. This represents a c) dividend on an annualized basis and a dividend yield of 2.7%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. purchased a new stake in First Trust Ultra Short Duration Municipal ETF in the second quarter valued at about $29,000. Tucker Asset Management LLC acquired a new position in shares of First Trust Ultra Short Duration Municipal ETF during the fourth quarter valued at about $41,000. Advisory Services Network LLC purchased a new position in shares of First Trust Ultra Short Duration Municipal ETF in the 3rd quarter valued at approximately $77,000. CoreCap Advisors LLC boosted its stake in First Trust Ultra Short Duration Municipal ETF by 250.6% in 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 in the last quarter. Finally, AE Wealth Management LLC purchased a new stake in First Trust Ultra Short Duration Municipal ETF during the 3rd quarter worth approximately $103,000.

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.