In trading on Wednesday, shares of the First Trust Managed Municipal ETF (FMB) fell to $54.83, entering oversold territory as indicated by a Relative Strength Index (RSI) reading of 28.3. This threshold signifies potential exhaustion of selling momentum, especially given that an RSI below 30 typically indicates oversold conditions.
The ETF’s 52-week range shows a low of $54.64 and a high of $57.84, with the current trading price at $54.87, marking a decrease of approximately 0.2% for the day. In comparison, the S&P 500’s RSI stands at 45.9, highlighting the relative weakness of FMB.
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