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

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

First Trust New York Municipal High Income ETF Trading Down 0.0%

FMNY traded down $0.01 on Tuesday, hitting $26.85. 10,583 shares of the company’s stock were exchanged, compared to its average volume of 8,266. First Trust New York Municipal High Income ETF has a fifty-two week low of $24.98 and a fifty-two week high of $26.98. The firm has a 50-day moving average price of $26.74 and a 200-day moving average price of $26.39.

First Trust New York Municipal High Income ETF Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FMNY. Hennion & Walsh Asset Management Inc. increased its stake in shares of First Trust New York Municipal High Income ETF by 2.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 107,277 shares of the company’s stock worth $2,841,000 after buying an additional 2,177 shares during the period. Magnus Financial Group LLC raised its stake in First Trust New York Municipal High Income ETF by 5.0% in the second 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 in the last quarter. Jane Street Group LLC acquired a new position in shares of First Trust New York Municipal High Income ETF during the 1st quarter worth about $386,000. Finally, Flow Traders U.S. LLC acquired a new position in shares of First Trust New York Municipal High Income ETF during the 3rd quarter worth about $1,420,000.

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.