First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Large Drop in Short Interest

First Trust Municipal High Income ETF (NASDAQ:FMHI) was the target of a significant drop in short interest in April. As of April 30th, there was short interest totaling 11,012 shares, a drop of 35.7% from the April 15th total of 17,121 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 69,949 shares, the short-interest ratio is presently 0.2 days.

First Trust Municipal High Income ETF Stock Up 0.1%

FMHI stock traded up $0.05 during mid-day trading on Monday, reaching $47.85. The company had a trading volume of 108,589 shares, compared to its average volume of 118,988. The stock has a 50 day simple moving average of $47.98 and a two-hundred day simple moving average of $48.04. First Trust Municipal High Income ETF has a 52 week low of $45.83 and a 52 week high of $48.73.

First Trust Municipal High Income ETF Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, April 30th. Investors of record on Tuesday, April 21st were issued a dividend of $0.175 per share. The ex-dividend date of this dividend was Tuesday, April 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC bought a new stake in shares of First Trust Municipal High Income ETF during the 1st quarter valued at $377,000. Baird Financial Group Inc. grew its stake in First Trust Municipal High Income ETF by 7.6% during the second quarter. Baird Financial Group Inc. now owns 6,400 shares of the company’s stock worth $299,000 after buying an additional 450 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of First Trust Municipal High Income ETF by 888.7% during the 2nd quarter. Jane Street Group LLC now owns 131,035 shares of the company’s stock worth $6,119,000 after acquiring an additional 117,782 shares during the period. MML Investors Services LLC lifted its holdings in shares of First Trust Municipal High Income ETF by 1.4% during the 2nd quarter. MML Investors Services LLC now owns 101,612 shares of the company’s stock worth $4,745,000 after acquiring an additional 1,414 shares during the period. Finally, Orion Porfolio Solutions LLC lifted its holdings in shares of First Trust Municipal High Income ETF by 4.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 8,184 shares of the company’s stock worth $382,000 after acquiring an additional 365 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.