First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Sees Large Growth in Short Interest

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) was the target of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 9,673 shares, an increase of 1,435.4% from the January 15th total of 630 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily trading volume, of 7,043 shares, the short-interest ratio is currently 1.4 days. Based on an average daily trading volume, of 7,043 shares, the short-interest ratio is currently 1.4 days. Currently, 0.9% of the shares of the company are sold short.

Hedge Funds Weigh In On First Trust New York Municipal High Income ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. acquired a new stake in First Trust New York Municipal High Income ETF during the fourth quarter worth about $330,000. Jane Street Group LLC acquired a new stake in shares of First Trust New York Municipal High Income ETF during the 1st quarter worth approximately $386,000. Emergent Wealth Advisors LLC purchased a new position in shares of First Trust New York Municipal High Income ETF during the 4th quarter valued at approximately $407,000. Flow Traders U.S. LLC acquired a new position in shares of First Trust New York Municipal High Income ETF in the 3rd quarter valued at $1,420,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings 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 worth $2,841,000 after buying an additional 2,177 shares in the last quarter.

First Trust New York Municipal High Income ETF Price Performance

Shares of NYSEARCA FMNY traded up $0.08 during mid-day trading on Tuesday, hitting $27.03. The stock had a trading volume of 2,907 shares, compared to its average volume of 6,874. The company has a 50 day moving average of $26.75 and a two-hundred day moving average of $26.53. First Trust New York Municipal High Income ETF has a twelve month low of $24.98 and a twelve month high of $27.03.

First Trust New York Municipal High Income ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, January 21st were issued a dividend of $0.083 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. This is a positive change from First Trust New York Municipal High Income ETF’s previous monthly dividend of $0.08. The ex-dividend date of this dividend was Wednesday, January 21st.

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.