First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) Short Interest Down 31.0% in March
by Tristan Rich · The Markets DailyFirst Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB – Get Free Report) was the recipient of a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 109,209 shares, a decline of 31.0% from the February 26th total of 158,351 shares. Based on an average daily volume of 128,432 shares, the short-interest ratio is currently 0.9 days. Currently, 0.4% of the shares of the company are sold short.
First Trust Short Duration Managed Municipal ETF Stock Performance
FSMB stock remained flat at $19.92 on Friday. 183,370 shares of the company traded hands, compared to its average volume of 164,155. First Trust Short Duration Managed Municipal ETF has a 52 week low of $19.47 and a 52 week high of $20.25. The company has a 50-day moving average of $20.14 and a 200-day moving average of $20.09.
First Trust Short Duration Managed Municipal ETF Dividend Announcement
The company also recently declared a monthly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 20th were issued a dividend of $0.053 per share. This represents a c) annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, February 20th.
Institutional Trading of First Trust Short Duration Managed Municipal ETF
Several large investors have recently modified their holdings of the company. Morgan Stanley lifted its holdings in First Trust Short Duration Managed Municipal ETF by 0.4% in the fourth quarter. Morgan Stanley now owns 4,412,903 shares of the company’s stock valued at $88,457,000 after acquiring an additional 16,783 shares during the period. Raymond James Financial Inc. grew its stake in shares of 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 valued at $34,873,000 after purchasing an additional 53,489 shares during the period. Corient Private Wealth LLC increased its position in shares of 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 valued at $24,559,000 after purchasing an additional 35,272 shares during the last quarter. RMR Wealth Builders increased its position in shares of First Trust Short Duration Managed Municipal ETF by 8.4% during the 4th quarter. RMR Wealth Builders now owns 1,023,222 shares of the company’s stock valued at $20,510,000 after purchasing an additional 79,371 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of First Trust Short Duration Managed Municipal ETF by 5.5% in the 4th quarter. HighTower Advisors LLC now owns 880,016 shares of the company’s stock worth $17,640,000 after purchasing 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.