First Trust Municipal High Income ETF (NASDAQ:FMHI) Short Interest Update

First Trust Municipal High Income ETF (NASDAQ:FMHI) was the target of a significant drop in short interest in September. As of September 15th, there was short interest totaling 35,413 shares, a drop of 55.6% from the August 31st total of 79,811 shares. Based on an average daily trading volume, of 131,273 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the shares of the company are sold short.

First Trust Municipal High Income ETF Trading Down 1.1%

First Trust Municipal High Income ETF stock traded down $0.47 during trading hours on Monday, hitting $44.70. The stock had a trading volume of 191,946 shares, compared to its average volume of 121,877. The company has a 50-day moving average of $47.15 and a two-hundred day moving average of $47.77. First Trust Municipal High Income ETF has a fifty-two week low of $44.66 and a fifty-two week high of $48.73.

First Trust Municipal High Income ETF Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th will be issued a $0.1790 dividend. This is a boost from First Trust Municipal High Income ETF’s previous monthly dividend of $0.1780. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.15 annualized dividend and a yield of 4.8%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its holdings in First Trust Municipal High Income ETF by 10.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 93,322 shares of the company’s stock valued at $4,525,000 after purchasing an additional 8,621 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of First Trust Municipal High Income ETF by 6.6% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 32,915 shares of the company’s stock valued at $1,596,000 after buying an additional 2,049 shares during the period. RFG Advisory LLC increased its position in First Trust Municipal High Income ETF by 26.4% in the second quarter. RFG Advisory LLC now owns 54,039 shares of the company’s stock worth $2,620,000 after purchasing an additional 11,299 shares during the period. NewEdge Advisors LLC raised its stake in shares of First Trust Municipal High Income ETF by 10.2% during the second quarter. NewEdge Advisors LLC now owns 296,778 shares of the company’s stock worth $14,391,000 after buying an additional 27,555 shares during the last quarter. Finally, Hedeker Wealth LLC lifted its stake in shares of First Trust Municipal High Income ETF by 5.6% in the 2nd quarter. Hedeker Wealth LLC now owns 10,518 shares of the company’s stock valued at $510,000 after purchasing an additional 558 shares during the period.

First Trust Municipal High Income ETF Company Profile

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.