First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Short Interest Down 89.3% in March
by Tristan Rich · The Markets DailyFirst Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB – Get Free Report) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totaling 15,638 shares, a drop of 89.3% from the March 15th total of 146,451 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 81,473 shares, the short-interest ratio is currently 0.2 days.
Hedge Funds Weigh In On First Trust Ultra Short Duration Municipal ETF
Institutional investors have recently bought and sold shares of the business. XML Financial LLC boosted its position in First Trust Ultra Short Duration Municipal ETF by 5.3% during the 3rd quarter. XML Financial LLC now owns 507,182 shares of the company’s stock valued at $10,194,000 after acquiring an additional 25,633 shares in the last quarter. Uniting Wealth Partners LLC bought a new position in shares of First Trust Ultra Short Duration Municipal ETF in the 3rd quarter worth $833,000. JPMorgan Chase & Co. raised its position in shares of First Trust Ultra Short Duration Municipal ETF by 43.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 199,330 shares of the company’s stock worth $4,007,000 after acquiring an additional 60,500 shares in the last quarter. Bleakley Financial Group LLC purchased a new stake in shares of First Trust Ultra Short Duration Municipal ETF during the 3rd quarter worth $1,150,000. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of First Trust Ultra Short Duration Municipal ETF during the 3rd quarter worth $1,559,000.
First Trust Ultra Short Duration Municipal ETF Stock Performance
Shares of NYSEARCA:FUMB remained flat at $20.08 during trading hours on Friday. 44,684 shares of the stock traded hands, compared to its average volume of 90,204. First Trust Ultra Short Duration Municipal ETF has a twelve month low of $19.99 and a twelve month high of $20.72. The company’s 50 day moving average is $20.10 and its two-hundred day moving average is $20.09.
About First Trust Ultra Short Duration Municipal ETF
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.