Short Interest in First Trust Municipal High Income ETF (NASDAQ:FMHI) Drops By 48.9%

First Trust Municipal High Income ETF (NASDAQ:FMHI) saw a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 12,661 shares, a decrease of 48.9% from the May 14th total of 24,787 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 102,690 shares, the days-to-cover ratio is presently 0.1 days.

First Trust Municipal High Income ETF Trading Down 0.1%

Shares of NASDAQ FMHI traded down $0.07 during trading hours on Friday, hitting $48.30. The company had a trading volume of 48,119 shares, compared to its average volume of 115,988. First Trust Municipal High Income ETF has a 1-year low of $45.83 and a 1-year high of $48.73. The firm’s 50 day moving average is $48.06 and its 200-day moving average is $48.04.

First Trust Municipal High Income ETF Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 21st were issued a dividend of $0.176 per share. The ex-dividend date of this dividend was Thursday, May 21st. This is a positive change from First Trust Municipal High Income ETF’s previous dividend of $0.18.

Institutional Investors Weigh In On First Trust Municipal High Income ETF

Several hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC lifted its holdings in First Trust Municipal High Income ETF by 6.5% during the 1st quarter. NewEdge Advisors LLC now owns 269,223 shares of the company’s stock valued at $12,799,000 after purchasing an additional 16,490 shares during the last quarter. Western Wealth Management LLC acquired a new stake in First Trust Municipal High Income ETF during the 1st quarter valued at $162,000. Bank of America Corp DE lifted its holdings in First Trust Municipal High Income ETF by 23.7% during the 1st quarter. Bank of America Corp DE now owns 798,920 shares of the company’s stock valued at $37,981,000 after purchasing an additional 153,170 shares during the last quarter. Ashton Thomas Securities LLC increased its position in First Trust Municipal High Income ETF by 6.9% during the 1st quarter. Ashton Thomas Securities LLC now owns 146,300 shares of the company’s stock worth $6,955,000 after buying an additional 9,422 shares during the period. Finally, Arkadios Wealth Advisors increased its position in First Trust Municipal High Income ETF by 23.0% during the 1st quarter. Arkadios Wealth Advisors now owns 8,217 shares of the company’s stock worth $391,000 after buying an additional 1,534 shares during the period.

About First Trust Municipal High Income ETF

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.