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

First Trust Municipal High Income ETF (NASDAQ:FMHI) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 138,409 shares, an increase of 655.4% from the June 30th total of 18,323 shares. Based on an average daily volume of 104,938 shares, the short-interest ratio is presently 1.3 days. Currently, 0.7% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FMHI. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of First Trust Municipal High Income ETF in the second quarter valued at $235,000. Dynamic Advisor Solutions LLC boosted its stake in shares of First Trust Municipal High Income ETF by 3.1% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 8,335 shares of the company’s stock worth $404,000 after purchasing an additional 252 shares during the period. CoreCap Advisors LLC boosted its stake in shares of First Trust Municipal High Income ETF by 12.2% during the 2nd quarter. CoreCap Advisors LLC now owns 6,687 shares of the company’s stock worth $324,000 after purchasing an additional 728 shares during the period. Hobart Private Capital LLC grew its holdings in First Trust Municipal High Income ETF by 26.4% during the 2nd quarter. Hobart Private Capital LLC now owns 26,834 shares of the company’s stock valued at $1,301,000 after purchasing an additional 5,609 shares during the last quarter. Finally, Western Wealth Management LLC bought a new position in First Trust Municipal High Income ETF during the 1st quarter valued at about $162,000.

First Trust Municipal High Income ETF Trading Up 0.1%

Shares of First Trust Municipal High Income ETF stock opened at $47.56 on Friday. The stock has a 50 day moving average price of $48.22 and a 200-day moving average price of $48.14. First Trust Municipal High Income ETF has a one year low of $45.85 and a one year high of $48.73.

First Trust Municipal High Income ETF Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 21st will be given a $0.177 dividend. The ex-dividend date is Tuesday, July 21st.

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.