First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Short Interest Update

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) saw a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 7,748 shares, a growth of 115.8% from the April 15th total of 3,590 shares. Based on an average trading volume of 9,194 shares, the short-interest ratio is presently 0.8 days. Currently, 0.6% of the company’s stock are sold short.

First Trust New York Municipal High Income ETF Stock Performance

Shares of FMNY opened at $26.56 on Friday. The company has a 50 day moving average of $26.69 and a two-hundred day moving average of $26.78. First Trust New York Municipal High Income ETF has a twelve month low of $25.53 and a twelve month high of $27.22.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FMNY. Cetera Investment Advisers increased its position in First Trust New York Municipal High Income ETF by 94.4% during the 1st 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 in the last quarter. Flynn Zito Capital Management LLC purchased a new stake in First Trust New York Municipal High Income ETF in the first quarter valued at about $4,036,000. Platform Technology Partners boosted its holdings in 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 worth $395,000 after acquiring an additional 3,710 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of First Trust New York Municipal High Income ETF during the first quarter worth about $204,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of First Trust New York Municipal High Income ETF during the fourth quarter worth about $181,000.

About First Trust New York Municipal High Income ETF

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.