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

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) was the target of a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 2,477 shares, a drop of 26.9% from the November 30th total of 3,387 shares. Based on an average trading volume of 9,387 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.3% of the shares of the company are sold short. Currently, 0.3% of the shares of the company are sold short. Based on an average trading volume of 9,387 shares, the days-to-cover ratio is presently 0.3 days.

First Trust New York Municipal High Income ETF Stock Down 0.1%

FMNY stock opened at $26.67 on Monday. First Trust New York Municipal High Income ETF has a 52 week low of $24.98 and a 52 week high of $26.98. The business has a 50-day simple moving average of $26.75 and a 200 day simple moving average of $26.33.

First Trust New York Municipal High Income ETF Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 21st were paid a $0.081 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a c) annualized dividend and a yield of 3.6%.

Institutional Trading of First Trust New York Municipal High Income ETF

A number of hedge funds have recently made changes to their positions in FMNY. Magnus Financial Group LLC boosted its stake in shares of First Trust New York Municipal High Income ETF by 5.0% in the 2nd quarter. Magnus Financial Group LLC now owns 175,749 shares of the company’s stock valued at $4,564,000 after purchasing an additional 8,340 shares during the last quarter. Flow Traders U.S. LLC bought a new position in First Trust New York Municipal High Income ETF during the third quarter worth $1,420,000. Jane Street Group LLC lifted its holdings in First Trust New York Municipal High Income ETF by 236.5% in the second quarter. Jane Street Group LLC now owns 49,379 shares of the company’s stock valued at $1,282,000 after buying an additional 34,704 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its position in First Trust New York Municipal High Income ETF by 2.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 107,277 shares of the company’s stock valued at $2,841,000 after acquiring an additional 2,177 shares during the last quarter.

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.