First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Stock Short Interest Rises 161.6%

First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totaling 169,236 shares, an increase of 161.6% from the September 15th total of 64,705 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average trading volume of 179,943 shares, the short-interest ratio is currently 0.9 days.

First Trust Ultra Short Duration Municipal ETF Stock Performance

Shares of NYSEARCA FUMB remained flat at $19.95 during mid-day trading on Monday. The stock had a trading volume of 165,094 shares, compared to its average volume of 96,105. First Trust Ultra Short Duration Municipal ETF has a one year low of $19.88 and a one year high of $20.72. The business’s 50-day simple moving average is $20.02 and its 200-day simple moving average is $20.05.

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

A number of institutional investors and hedge funds have recently modified their holdings of the company. IMG Wealth Management Inc. increased its holdings in shares of First Trust Ultra Short Duration Municipal ETF by 96.4% in the first quarter. IMG Wealth Management Inc. now owns 2,712 shares of the company’s stock worth $54,000 after purchasing an additional 1,331 shares during the period. CoreCap Advisors LLC boosted its stake in First Trust Ultra Short Duration Municipal ETF by 30.6% during the second quarter. CoreCap Advisors LLC now owns 7,894 shares of the company’s stock valued at $158,000 after buying an additional 1,849 shares during the period. Compass Financial Management LLC bought a new stake in First Trust Ultra Short Duration Municipal ETF during the second quarter valued at $183,000. Fifth Third Bancorp purchased a new position in First Trust Ultra Short Duration Municipal ETF during the first quarter worth about $190,000. Finally, Ascentis Independent Advisors purchased a new position in First Trust Ultra Short Duration Municipal ETF during the first quarter worth about $204,000.

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.