Avaii Wealth Management LLC Raises Stake in First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB)

Avaii Wealth Management LLC grew its position in First Trust Short Duration Managed Municipal ETF (NYSEARCA:FSMB) by 79.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 36,100 shares of the company’s stock after acquiring an additional 15,965 shares during the period. Avaii Wealth Management LLC’s holdings in First Trust Short Duration Managed Municipal ETF were worth $716,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FSMB. Envestnet Asset Management Inc. boosted its holdings in First Trust Short Duration Managed Municipal ETF by 3.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 398,963 shares of the company’s stock worth $7,888,000 after buying an additional 14,752 shares during the period. NewEdge Advisors LLC boosted its stake in shares of First Trust Short Duration Managed Municipal ETF by 1.6% in the second quarter. NewEdge Advisors LLC now owns 154,592 shares of the company’s stock worth $3,056,000 after acquiring an additional 2,460 shares during the period. Cetera Investment Advisers boosted its stake in shares of First Trust Short Duration Managed Municipal ETF by 9.1% in the second quarter. Cetera Investment Advisers now owns 245,656 shares of the company’s stock worth $4,857,000 after acquiring an additional 20,578 shares during the period. Summit Wealth Partners LLC raised its stake in First Trust Short Duration Managed Municipal ETF by 9.2% during the 2nd quarter. Summit Wealth Partners LLC now owns 17,331 shares of the company’s stock valued at $343,000 after purchasing an additional 1,464 shares during the period. Finally, Occidental Asset Management LLC raised its stake in First Trust Short Duration Managed Municipal ETF by 2.0% during the 3rd quarter. Occidental Asset Management LLC now owns 38,786 shares of the company’s stock valued at $776,000 after purchasing an additional 750 shares during the period.

First Trust Short Duration Managed Municipal ETF Stock Performance

FSMB stock opened at $19.86 on Friday. First Trust Short Duration Managed Municipal ETF has a 1-year low of $19.65 and a 1-year high of $20.11. The business has a 50 day simple moving average of $19.89 and a two-hundred day simple moving average of $19.94.

First Trust Short Duration Managed Municipal ETF Company Profile

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.