Short Interest in First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Expands By 1,435.4%

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) was the target of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 9,673 shares, a growth of 1,435.4% from the January 15th total of 630 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average trading volume of 7,043 shares, the days-to-cover ratio is presently 1.4 days. Based on an average trading volume of 7,043 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.9% of the shares of the company are short sold.

First Trust New York Municipal High Income ETF Trading Down 0.2%

Shares of First Trust New York Municipal High Income ETF stock traded down $0.05 during trading hours on Wednesday, hitting $26.98. 2,073 shares of the company’s stock traded hands, compared to its average volume of 6,696. The company has a fifty day simple moving average of $26.76 and a 200-day simple moving average of $26.54. First Trust New York Municipal High Income ETF has a 12-month low of $24.98 and a 12-month high of $27.03.

First Trust New York Municipal High Income ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 21st were paid a $0.083 dividend. The ex-dividend date was Wednesday, January 21st. This is a positive change from First Trust New York Municipal High Income ETF’s previous monthly dividend of $0.08. This represents a c) dividend on an annualized basis and a yield of 3.7%.

Institutional Trading of First Trust New York Municipal High Income ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. Magnus Financial Group LLC lifted its position in First Trust New York Municipal High Income ETF by 82.1% in the 3rd quarter. Magnus Financial Group LLC now owns 320,049 shares of the company’s stock worth $8,476,000 after buying an additional 144,300 shares during the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of First Trust New York Municipal High Income ETF during the third quarter worth about $1,420,000. Hennion & Walsh Asset Management Inc. grew its stake in shares of First Trust New York Municipal High Income ETF by 44.6% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 155,121 shares of the company’s stock worth $4,141,000 after purchasing an additional 47,844 shares during the last quarter. Jane Street Group LLC raised its position in First Trust New York Municipal High Income ETF by 236.5% during the 2nd quarter. Jane Street Group LLC now owns 49,379 shares of the company’s stock valued at $1,282,000 after purchasing an additional 34,704 shares during the last quarter. Finally, Emergent Wealth Advisors LLC bought a new stake in shares of First Trust New York Municipal High Income ETF in the 4th quarter worth approximately $407,000.

First Trust New York Municipal High Income ETF Company Profile

The First Trust New York High Income Municipal ETF (FMNY) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that targets fixed income of any duration and credit quality. Issues selected provide interest income that is exempt from federal, New York State and City taxes. FMNY was launched on May 12, 2021 and is managed by First Trust.