First Trust New York Municipal High Income ETF (NYSEARCA:FMNY – Get Free Report) was the target of a large growth in short interest in April. As of April 30th, there was short interest totaling 7,748 shares, a growth of 115.8% from the April 15th total of 3,590 shares. Based on an average daily volume of 9,194 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.6% of the shares of the company are short sold.
First Trust New York Municipal High Income ETF Stock Down 0.4%
NYSEARCA FMNY opened at $26.56 on Friday. First Trust New York Municipal High Income ETF has a 12-month low of $25.53 and a 12-month high of $27.22. The company has a fifty day simple moving average of $26.69 and a two-hundred day simple moving average of $26.78.
Hedge Funds Weigh In On First Trust New York Municipal High Income ETF
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Flynn Zito Capital Management LLC acquired a new position in shares of First Trust New York Municipal High Income ETF in the first quarter valued at about $4,036,000. Flow Traders U.S. LLC purchased a new stake in First Trust New York Municipal High Income ETF in the third quarter valued at approximately $1,420,000. Hennion & Walsh Asset Management Inc. increased its holdings in First Trust New York Municipal High Income ETF by 44.6% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 155,121 shares of the company’s stock worth $4,141,000 after buying an additional 47,844 shares during the period. 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 worth $1,282,000 after buying an additional 34,704 shares during the last quarter. Finally, Emergent Wealth Advisors LLC purchased a new position in First Trust New York Municipal High Income ETF during the 4th quarter worth approximately $407,000.
About First Trust New York Municipal High Income ETF
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.
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