First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Stock Short Interest Jumps 569.1%

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) was the recipient of a significant growth in short interest during the month of October. As of October 30th, there was short interest totaling 13,811 shares, a growth of 569.1% from the October 15th total of 2,064 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average daily trading volume, of 10,506 shares, the days-to-cover ratio is presently 1.3 days.

Hedge Funds Weigh In On First Trust New York Municipal High Income ETF

Hedge funds have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. raised its holdings in First Trust New York Municipal High Income ETF by 11.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 200,577 shares of the company’s stock valued at $5,396,000 after acquiring an additional 20,918 shares during the last quarter. Flynn Zito Capital Management LLC acquired a new position in shares of First Trust New York Municipal High Income ETF in the 1st quarter worth approximately $4,036,000. Magnus Financial Group LLC boosted its position in shares of First Trust New York Municipal High Income ETF by 12.9% during the third quarter. Magnus Financial Group LLC now owns 472,922 shares of the company’s stock worth $11,771,000 after buying an additional 54,053 shares during the period. Commonwealth Equity Services LLC acquired a new position in First Trust New York Municipal High Income ETF in the 3rd quarter valued at about $304,000. Finally, Cetera Investment Advisers increased its stake in First Trust New York Municipal High Income ETF by 94.4% during the first quarter. Cetera Investment Advisers now owns 27,693 shares of the company’s stock worth $732,000 after purchasing an additional 13,451 shares during the period.

First Trust New York Municipal High Income ETF Stock Performance

NYSEARCA FMNY opened at $25.98 on Wednesday. First Trust New York Municipal High Income ETF has a 1 year low of $24.49 and a 1 year high of $27.22. The company has a fifty day moving average of $25.37 and a 200 day moving average of $26.36.

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.