First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Significant Decrease in Short Interest

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

First Trust Municipal High Income ETF Price Performance

FMHI stock opened at $48.30 on Friday. First Trust Municipal High Income ETF has a twelve month low of $45.83 and a twelve month high of $48.73. The company’s 50 day moving average is $48.06 and its two-hundred day moving average is $48.04.

First Trust Municipal High Income ETF Increases Dividend

The business also recently disclosed 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 an increase from First Trust Municipal High Income ETF’s previous dividend of $0.18.

Institutional Trading of First Trust Municipal High Income ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advyzon Investment Management LLC raised its holdings in First Trust Municipal High Income ETF by 2.3% during the third quarter. Advyzon Investment Management LLC now owns 9,783 shares of the company’s stock worth $465,000 after purchasing an additional 223 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in First Trust Municipal High Income ETF by 1.6% during the first quarter. Nations Financial Group Inc. IA ADV now owns 19,160 shares of the company’s stock worth $911,000 after purchasing an additional 300 shares in the last quarter. Altus Wealth Group LLC raised its holdings in First Trust Municipal High Income ETF by 4.5% during the fourth quarter. Altus Wealth Group LLC now owns 7,484 shares of the company’s stock worth $359,000 after purchasing an additional 320 shares in the last quarter. Orion Porfolio Solutions LLC raised its holdings in First Trust Municipal High Income ETF by 4.7% during the second quarter. Orion Porfolio Solutions LLC now owns 8,184 shares of the company’s stock worth $382,000 after purchasing an additional 365 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in First Trust Municipal High Income ETF by 0.5% during the third quarter. Envestnet Asset Management Inc. now owns 71,188 shares of the company’s stock worth $3,382,000 after purchasing an additional 379 shares in the last quarter.

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.