First Trust New York Municipal High Income ETF (NYSEARCA:FMNY – Get Free Report) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totaling 29,905 shares, an increase of 286.0% from the April 30th total of 7,748 shares. Based on an average daily trading volume, of 10,342 shares, the days-to-cover ratio is presently 2.9 days. Approximately 2.1% of the shares of the stock are short sold.
First Trust New York Municipal High Income ETF Stock Up 0.2%
FMNY stock traded up $0.04 during trading on Friday, reaching $26.70. 2,640 shares of the company were exchanged, compared to its average volume of 9,538. First Trust New York Municipal High Income ETF has a 52-week low of $25.53 and a 52-week high of $27.22. The stock’s 50 day moving average price is $26.63 and its 200 day moving average price is $26.76.
Institutional Trading of First Trust New York Municipal High Income ETF
A number of institutional investors have recently bought and sold shares of the company. Flynn Zito Capital Management LLC purchased a new stake in First Trust New York Municipal High Income ETF during the first quarter worth $4,036,000. Flow Traders U.S. LLC purchased a new stake in First Trust New York Municipal High Income ETF during the third quarter worth $1,420,000. Hennion & Walsh Asset Management Inc. boosted its position in First Trust New York Municipal High Income ETF by 44.6% during 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 in the last quarter. Jane Street Group LLC boosted its position in First Trust New York Municipal High Income ETF by 236.5% during the second quarter. Jane Street Group LLC now owns 49,379 shares of the company’s stock worth $1,282,000 after purchasing an additional 34,704 shares in the last quarter. Finally, Emergent Wealth Advisors LLC purchased a new stake in First Trust New York Municipal High Income ETF during the fourth quarter worth $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.
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