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 recipient of a large drop in short interest in May. As of May 29th, there was short interest totaling 18,485 shares, a drop of 38.2% from the May 14th total of 29,905 shares. Based on an average daily volume of 7,596 shares, the days-to-cover ratio is currently 2.4 days. Currently, 1.3% of the company’s stock are sold short.

First Trust New York Municipal High Income ETF Stock Performance

Shares of NYSEARCA FMNY opened at $26.78 on Monday. First Trust New York Municipal High Income ETF has a fifty-two week low of $25.61 and a fifty-two week high of $27.22. The business has a 50 day moving average price of $26.69 and a two-hundred day moving average price of $26.76.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FMNY. Flynn Zito Capital Management LLC bought a new position in First Trust New York Municipal High Income ETF during the 1st quarter worth approximately $4,036,000. Flow Traders U.S. LLC bought a new position in First Trust New York Municipal High Income ETF during the 3rd quarter worth approximately $1,420,000. Hennion & Walsh Asset Management Inc. lifted its holdings in First Trust New York Municipal High Income ETF by 44.6% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 155,121 shares of the company’s stock worth $4,141,000 after buying an additional 47,844 shares during the last quarter. Jane Street Group LLC lifted its holdings in First Trust New York Municipal High Income ETF by 236.5% during the 2nd quarter. Jane Street Group LLC now owns 49,379 shares of the company’s stock worth $1,282,000 after buying an additional 34,704 shares during the last quarter. Finally, Emergent Wealth Advisors LLC bought a new position in First Trust New York Municipal High Income ETF during the 4th quarter worth approximately $407,000.

First Trust New York Municipal High Income ETF Company Profile

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.