First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Short Interest Update

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) was the target of a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 18,418 shares, a decline of 50.6% from the July 30th total of 37,281 shares. Based on an average trading volume of 8,535 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.3% of the shares of the company are sold short.

Institutional Trading of First Trust New York Municipal High Income ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Platform Technology Partners lifted its position in shares of First Trust New York Municipal High Income ETF by 33.0% in the 1st quarter. Platform Technology Partners now owns 14,942 shares of the company’s stock worth $395,000 after buying an additional 3,710 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of First Trust New York Municipal High Income ETF by 38.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 19,891 shares of the company’s stock valued at $531,000 after buying an additional 5,515 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of First Trust New York Municipal High Income ETF during the 4th quarter valued at about $181,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in First Trust New York Municipal High Income ETF during the first quarter worth about $204,000. Finally, LPL Financial LLC acquired a new stake in First Trust New York Municipal High Income ETF during the fourth quarter worth about $265,000.

First Trust New York Municipal High Income ETF Stock Performance

FMNY traded down $0.09 during trading hours on Friday, hitting $26.08. 5,240 shares of the stock were exchanged, compared to its average volume of 8,057. The stock has a 50-day simple moving average of $26.54 and a 200-day simple moving average of $26.69. First Trust New York Municipal High Income ETF has a 12 month low of $25.78 and a 12 month high of $27.22.

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.