First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Sees Large Increase in Short Interest

by · The Markets Daily

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY – Get Free Report) saw a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 7,581 shares, a growth of 357.8% from the February 12th total of 1,656 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 7,220 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily trading volume, of 7,220 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.7% of the shares of the company are short sold.

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

First Trust New York Municipal High Income ETF stock traded down $0.05 during trading hours on Thursday, reaching $26.80. 5,506 shares of the stock were exchanged, compared to its average volume of 7,171. First Trust New York Municipal High Income ETF has a 52-week low of $24.98 and a 52-week high of $27.22. The firm’s 50 day moving average is $26.91 and its 200 day moving average is $26.70.

First Trust New York Municipal High Income ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 20th were paid a dividend of $0.084 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. This is a positive change from First Trust New York Municipal High Income ETF’s previous monthly dividend of $0.08. The ex-dividend date was Friday, February 20th.

Institutional Investors Weigh In On First Trust New York Municipal High Income ETF

A number of hedge funds have recently added to or reduced their stakes in the company. Magnus Financial Group LLC boosted its holdings 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 valued at $8,476,000 after purchasing an additional 144,300 shares in the last quarter. Flow Traders U.S. LLC purchased a new position in shares of First Trust New York Municipal High Income ETF during the 3rd quarter worth approximately $1,420,000. Hennion & Walsh Asset Management Inc. raised its stake in shares of First Trust New York Municipal High Income ETF by 44.6% during 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 in the last quarter. Jane Street Group LLC lifted its holdings in shares of First Trust New York Municipal High Income ETF by 236.5% in the 2nd quarter. Jane Street Group LLC now owns 49,379 shares of the company’s stock valued at $1,282,000 after buying an additional 34,704 shares during the period. Finally, Emergent Wealth Advisors LLC acquired a new stake in shares of First Trust New York Municipal High Income ETF in the 4th quarter valued at approximately $407,000.

First Trust New York Municipal High Income ETF Company Profile

(Get Free Report)

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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