First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) Short Interest Down 48.3% in May

First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) was the target of a significant decrease in short interest during the month of May. As of May 29th, there was short interest totaling 13,171 shares, a decrease of 48.3% from the May 14th total of 25,477 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 119,514 shares, the short-interest ratio is presently 0.1 days.

First Trust Ultra Short Duration Municipal ETF Trading Up 0.1%

Shares of NYSEARCA FUMB opened at $20.10 on Tuesday. The firm has a 50-day simple moving average of $20.06 and a 200-day simple moving average of $20.08. First Trust Ultra Short Duration Municipal ETF has a 52 week low of $20.01 and a 52 week high of $20.72.

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

A number of hedge funds have recently modified their holdings of FUMB. Gateway Wealth Partners LLC grew its holdings in shares of First Trust Ultra Short Duration Municipal ETF by 107.1% in the first quarter. Gateway Wealth Partners LLC now owns 260,066 shares of the company’s stock valued at $5,214,000 after purchasing an additional 134,492 shares during the period. Flow Traders U.S. LLC purchased a new stake in shares of First Trust Ultra Short Duration Municipal ETF in the third quarter valued at about $2,495,000. Royal Bank of Canada grew its holdings in shares of First Trust Ultra Short Duration Municipal ETF by 49.1% in the first quarter. Royal Bank of Canada now owns 331,310 shares of the company’s stock valued at $6,658,000 after purchasing an additional 109,110 shares during the period. Capital Financial Group Inc. Co. ADV purchased a new stake in shares of First Trust Ultra Short Duration Municipal ETF in the fourth quarter valued at about $1,687,000. Finally, Wells Fargo & Company MN grew its holdings in shares of First Trust Ultra Short Duration Municipal ETF by 12.2% in the fourth quarter. Wells Fargo & Company MN now owns 688,251 shares of the company’s stock valued at $13,806,000 after purchasing an additional 74,572 shares during the period.

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.