Short Interest in First Trust Municipal High Income ETF (NASDAQ:FMHI) Expands By 213.8%

First Trust Municipal High Income ETF (NASDAQ:FMHI) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 79,811 shares, an increase of 213.8% from the August 15th total of 25,433 shares. Based on an average daily trading volume, of 202,171 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.4% of the shares of the company are short sold.

Institutional Investors Weigh In On First Trust Municipal High Income ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley raised its stake in First Trust Municipal High Income ETF by 9.7% during the 4th quarter. Morgan Stanley now owns 1,321,787 shares of the company’s stock valued at $63,359,000 after buying an additional 117,314 shares during the last quarter. LPL Financial LLC boosted its stake in shares of First Trust Municipal High Income ETF by 12.5% in the 4th quarter. LPL Financial LLC now owns 1,167,716 shares of the company’s stock worth $55,974,000 after buying an additional 129,684 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of First Trust Municipal High Income ETF by 15.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,145,777 shares of the company’s stock worth $54,922,000 after acquiring an additional 154,624 shares during the period. Bank of America Corp DE grew its holdings in shares of First Trust Municipal High Income ETF by 23.7% in the first quarter. Bank of America Corp DE now owns 798,920 shares of the company’s stock worth $37,981,000 after acquiring an additional 153,170 shares during the period. Finally, Meeder Advisory Services Inc. increased its position in First Trust Municipal High Income ETF by 11.0% during the first quarter. Meeder Advisory Services Inc. now owns 542,231 shares of the company’s stock valued at $25,778,000 after acquiring an additional 53,886 shares during the last quarter.

First Trust Municipal High Income ETF Stock Performance

Shares of NASDAQ FMHI traded up $0.19 during trading on Friday, reaching $46.35. 170,160 shares of the company traded hands, compared to its average volume of 116,829. The firm has a 50 day simple moving average of $47.63 and a 200-day simple moving average of $47.95. First Trust Municipal High Income ETF has a 52-week low of $46.03 and a 52-week high of $48.73.

First Trust Municipal High Income ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were given a dividend of $0.178 per share. This represents a c) dividend on an annualized basis and a yield of 4.6%. This is a positive change from First Trust Municipal High Income ETF’s previous monthly dividend of $0.18. The ex-dividend date was Friday, August 21st.

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.