Short Interest in First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Expands By 1,435.4%

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) was the recipient of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 9,673 shares, an increase of 1,435.4% from the January 15th total of 630 shares. Based on an average daily volume of 7,043 shares, the short-interest ratio is presently 1.4 days. Currently, 0.9% of the shares of the company are sold short. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 7,043 shares, the short-interest ratio is presently 1.4 days.

First Trust New York Municipal High Income ETF Stock Performance

NYSEARCA:FMNY remained flat at $26.99 during mid-day trading on Thursday. 2,086 shares of the company’s stock traded hands, compared to its average volume of 6,544. The business’s 50-day moving average price is $26.77 and its two-hundred day moving average price is $26.54. First Trust New York Municipal High Income ETF has a one year low of $24.98 and a one year high of $27.05.

First Trust New York Municipal High Income ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, January 21st were paid a $0.083 dividend. The ex-dividend date was Wednesday, January 21st. This is a positive change from First Trust New York Municipal High Income ETF’s previous monthly dividend of $0.08. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Magnus Financial Group LLC grew its stake in shares of First Trust New York Municipal High Income ETF by 82.1% during the 3rd quarter. Magnus Financial Group LLC now owns 320,049 shares of the company’s stock worth $8,476,000 after purchasing an additional 144,300 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in shares of 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 purchasing an additional 2,177 shares during the period. Commonwealth Equity Services LLC boosted its holdings in First Trust New York Municipal High Income ETF by 38.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 19,891 shares of the company’s stock worth $531,000 after buying an additional 5,515 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in First Trust New York Municipal High Income ETF during the fourth quarter worth $330,000. Finally, Flow Traders U.S. LLC acquired a new stake in First Trust New York Municipal High Income ETF during the third quarter valued at $1,420,000.

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.