First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Reaches New 1-Year Low – Here’s What Happened

First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $19.87 and last traded at $19.87, with a volume of 5517 shares trading hands. The stock had previously closed at $19.90.

First Trust Short Duration Managed Municipal ETF Price Performance

The firm’s fifty day moving average price is $19.99 and its 200-day moving average price is $20.05.

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

Several hedge funds have recently made changes to their positions in the company. Morgan Stanley lifted its holdings in shares of First Trust Short Duration Managed Municipal ETF by 0.4% in the 4th quarter. Morgan Stanley now owns 4,412,903 shares of the company’s stock valued at $88,457,000 after purchasing an additional 16,783 shares during the last quarter. Raymond James Financial Inc. grew its stake in First Trust Short Duration Managed Municipal ETF by 3.1% during the 2nd quarter. Raymond James Financial Inc. now owns 1,751,968 shares of the company’s stock worth $34,873,000 after buying an additional 53,489 shares during the last quarter. Corient Private Wealth LLC grew its stake in First Trust Short Duration Managed Municipal ETF by 3.0% during the 4th quarter. Corient Private Wealth LLC now owns 1,225,195 shares of the company’s stock worth $24,559,000 after buying an additional 35,272 shares during the last quarter. RMR Wealth Builders increased its position in First Trust Short Duration Managed Municipal ETF by 8.4% during the fourth quarter. RMR Wealth Builders now owns 1,023,222 shares of the company’s stock worth $20,510,000 after buying an additional 79,371 shares during the period. Finally, HighTower Advisors LLC increased its position in First Trust Short Duration Managed Municipal ETF by 5.5% during the fourth quarter. HighTower Advisors LLC now owns 880,016 shares of the company’s stock worth $17,640,000 after buying an additional 46,213 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.