First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Significant Drop in Short Interest

by · The Markets Daily

First Trust Municipal High Income ETF (NASDAQ:FMHI – Get Free Report) saw a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 24,600 shares, a decrease of 71.2% from the March 31st total of 85,300 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 112,300 shares, the short-interest ratio is presently 0.2 days.

First Trust Municipal High Income ETF Stock Performance

NASDAQ:FMHI traded up $0.09 during mid-day trading on Monday, hitting $46.57. The company’s stock had a trading volume of 193,559 shares, compared to its average volume of 85,594. First Trust Municipal High Income ETF has a fifty-two week low of $44.80 and a fifty-two week high of $49.51. The stock has a fifty day moving average of $47.67 and a 200-day moving average of $48.28.

First Trust Municipal High Income ETF Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd will be issued a dividend of $0.164 per share. This is a boost from First Trust Municipal High Income ETF’s previous monthly dividend of $0.16. The ex-dividend date is Tuesday, April 22nd. This represents a $1.97 annualized dividend and a yield of 4.23%.

Institutional Investors Weigh In On First Trust Municipal High Income ETF

Hedge funds have recently added to or reduced their stakes in the business. Private Trust Co. NA lifted its position in shares of First Trust Municipal High Income ETF by 5.5% during the 1st quarter. Private Trust Co. NA now owns 5,201 shares of the company’s stock worth $249,000 after buying an additional 271 shares during the last quarter. Arbor Capital Management Inc. ADV increased its holdings in First Trust Municipal High Income ETF by 7.0% in the first quarter. Arbor Capital Management Inc. ADV now owns 14,822 shares of the company’s stock worth $711,000 after purchasing an additional 970 shares in the last quarter. EnRich Financial Partners LLC boosted its stake in First Trust Municipal High Income ETF by 3.1% during the first quarter. EnRich Financial Partners LLC now owns 165,438 shares of the company’s stock worth $7,909,000 after acquiring an additional 4,901 shares in the last quarter. Altus Wealth Group LLC boosted its position in shares of First Trust Municipal High Income ETF by 9.1% during the 1st quarter. Altus Wealth Group LLC now owns 6,707 shares of the company’s stock worth $321,000 after purchasing an additional 559 shares in the last quarter. Finally, Perissos Private Wealth Management LLC grew its position in First Trust Municipal High Income ETF by 0.6% in the 1st quarter. Perissos Private Wealth Management LLC now owns 34,483 shares of the company’s stock valued at $1,648,000 after purchasing an additional 217 shares during the period.

About First Trust Municipal High Income ETF

(Get Free Report)

The First Trust Municipal High Income ETF (FMHI) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that holds a broad range of US municipal bonds. FMHI was launched on Nov 1, 2017 and is managed by First Trust.

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