First Trust Municipal High Income ETF (NASDAQ:FMHI) Stock Short Interest Jumps 430.3%

First Trust Municipal High Income ETF (NASDAQ:FMHI) saw a significant increase in short interest in October. As of October 30th, there was short interest totaling 312,838 shares, an increase of 430.3% from the October 15th total of 58,997 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average daily volume of 432,892 shares, the short-interest ratio is presently 0.7 days.

First Trust Municipal High Income ETF Stock Up 0.2%

Shares of NASDAQ:FMHI traded up $0.09 during mid-day trading on Wednesday, reaching $46.67. 20,092 shares of the stock were exchanged, compared to its average volume of 167,109. First Trust Municipal High Income ETF has a one year low of $44.34 and a one year high of $48.73. The stock’s 50 day simple moving average is $45.81 and its 200-day simple moving average is $47.49.

First Trust Municipal High Income ETF Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, October 21st were issued a dividend of $0.1790 per share. This represents a $2.15 annualized dividend and a yield of 4.6%. The ex-dividend date was Wednesday, October 21st.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Private Advisor Group LLC raised its stake in shares of First Trust Municipal High Income ETF by 42.9% during the 3rd quarter. Private Advisor Group LLC now owns 107,058 shares of the company’s stock worth $4,802,000 after purchasing an additional 32,159 shares in the last quarter. HighTower Advisors LLC acquired a new stake in shares of First Trust Municipal High Income ETF in the 3rd quarter valued at approximately $5,772,000. Stonebridge Financial Planning Group LLC boosted its holdings in shares of First Trust Municipal High Income ETF by 8.3% in the 3rd quarter. Stonebridge Financial Planning Group LLC now owns 32,635 shares of the company’s stock valued at $1,464,000 after buying an additional 2,507 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of First Trust Municipal High Income ETF by 10.3% in the third quarter. Fifth Third Bancorp now owns 16,224 shares of the company’s stock valued at $728,000 after buying an additional 1,516 shares in the last quarter. Finally, Schwallier Wealth Management LLC bought a new position in shares of First Trust Municipal High Income ETF in the third quarter valued at $762,000.

First Trust Municipal High Income ETF Company Profile

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.