Short Interest in First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Decreases By 38.2%

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) saw a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 18,485 shares, a decline of 38.2% from the May 14th total of 29,905 shares. Based on an average daily volume of 7,596 shares, the days-to-cover ratio is currently 2.4 days. Currently, 1.3% of the company’s stock are short sold.

First Trust New York Municipal High Income ETF Trading Up 0.1%

NYSEARCA:FMNY traded up $0.02 during trading hours on Tuesday, reaching $26.80. The company’s stock had a trading volume of 1,561 shares, compared to its average volume of 8,771. First Trust New York Municipal High Income ETF has a one year low of $25.61 and a one year high of $27.22. The business’s 50-day moving average is $26.69 and its 200-day moving average is $26.76.

Institutional Investors Weigh In On First Trust New York Municipal High Income ETF

A number of hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers lifted its stake in shares of First Trust New York Municipal High Income ETF by 94.4% in the first quarter. Cetera Investment Advisers now owns 27,693 shares of the company’s stock valued at $732,000 after buying an additional 13,451 shares during the period. Flynn Zito Capital Management LLC bought a new stake in shares of First Trust New York Municipal High Income ETF in the first quarter valued at about $4,036,000. Platform Technology Partners lifted its stake in shares of First Trust New York Municipal High Income ETF by 33.0% in the first quarter. Platform Technology Partners now owns 14,942 shares of the company’s stock valued at $395,000 after buying an additional 3,710 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of First Trust New York Municipal High Income ETF in the first quarter valued at about $204,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of First Trust New York Municipal High Income ETF in the fourth quarter valued at about $181,000.

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.