Kovack Advisors Inc. Sells 3,000 Shares of First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB)

Kovack Advisors Inc. lowered its position in shares of First Trust Ultra Short Duration Municipal ETF (NYSEARCA:FUMB) by 19.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,447 shares of the company’s stock after selling 3,000 shares during the quarter. Kovack Advisors Inc. owned approximately 0.09% of First Trust Ultra Short Duration Municipal ETF worth $250,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Gradient Investments LLC raised its stake in First Trust Ultra Short Duration Municipal ETF by 398.8% during the 3rd quarter. Gradient Investments LLC now owns 9,661 shares of the company’s stock worth $192,000 after buying an additional 7,724 shares during the period. Hobart Private Capital LLC acquired a new stake in shares of First Trust Ultra Short Duration Municipal ETF during the fourth quarter worth about $219,000. Naples Global Advisors LLC acquired a new stake in shares of First Trust Ultra Short Duration Municipal ETF during the fourth quarter worth about $231,000. VCI Wealth Management LLC bought a new position in shares of First Trust Ultra Short Duration Municipal ETF during the 4th quarter valued at about $252,000. Finally, Harbour Investments Inc. grew its position in shares of First Trust Ultra Short Duration Municipal ETF by 10.2% in the 3rd quarter. Harbour Investments Inc. now owns 13,811 shares of the company’s stock valued at $275,000 after purchasing an additional 1,277 shares during the period.

First Trust Ultra Short Duration Municipal ETF Price Performance

NYSEARCA FUMB opened at $20.04 on Tuesday. First Trust Ultra Short Duration Municipal ETF has a 52-week low of $19.88 and a 52-week high of $20.13. The business has a 50 day simple moving average of $20.06 and a 200 day simple moving average of $20.05.

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.