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

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 680 shares, a drop of 72.5% from the December 15th total of 2,477 shares. Based on an average daily volume of 7,545 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the company’s shares are short sold. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 7,545 shares, the short-interest ratio is presently 0.1 days.

First Trust New York Municipal High Income ETF Stock Performance

NYSEARCA:FMNY traded down $0.10 on Thursday, hitting $26.83. The stock had a trading volume of 14,746 shares, compared to its average volume of 8,665. The company has a fifty day moving average price of $26.74 and a two-hundred day moving average price of $26.41. First Trust New York Municipal High Income ETF has a 1-year low of $24.98 and a 1-year high of $26.98.

First Trust New York Municipal High Income ETF Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 21st were issued a $0.081 dividend. The ex-dividend date was Friday, November 21st. This represents a c) dividend on an annualized basis and a yield of 3.6%.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FMNY. Jane Street Group LLC acquired a new position in shares of First Trust New York Municipal High Income ETF in the 1st quarter valued at $386,000. Magnus Financial Group LLC raised its holdings in First Trust New York Municipal High Income ETF by 5.0% in the 2nd quarter. Magnus Financial Group LLC now owns 175,749 shares of the company’s stock valued at $4,564,000 after buying an additional 8,340 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in First Trust New York Municipal High Income ETF by 2.1% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 107,277 shares of the company’s stock valued at $2,841,000 after buying an additional 2,177 shares during the period. Flow Traders U.S. LLC acquired a new position in First Trust New York Municipal High Income ETF in the third quarter valued at about $1,420,000. Finally, Emergent Wealth Advisors LLC purchased a new position in First Trust New York Municipal High Income ETF during the fourth quarter worth about $407,000.

About First Trust New York Municipal High Income ETF

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.