First Trust Municipal High Income ETF (NASDAQ:FMHI) Short Interest Up 655.4% in July

First Trust Municipal High Income ETF (NASDAQ:FMHI) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 138,409 shares, a growth of 655.4% from the June 30th total of 18,323 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average trading volume of 104,938 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Glen Eagle Advisors LLC bought a new stake in shares of First Trust Municipal High Income ETF during the 1st quarter worth approximately $91,000. Camelot Portfolios LLC bought a new position in First Trust Municipal High Income ETF in the 4th quarter valued at $96,000. Parallel Advisors LLC bought a new position in First Trust Municipal High Income ETF in the 1st quarter valued at $161,000. Western Wealth Management LLC purchased a new stake in First Trust Municipal High Income ETF in the first quarter worth $162,000. Finally, CoreCap Advisors LLC increased its stake in First Trust Municipal High Income ETF by 243.8% in the fourth quarter. CoreCap Advisors LLC now owns 3,792 shares of the company’s stock worth $182,000 after purchasing an additional 2,689 shares during the period.

First Trust Municipal High Income ETF Stock Down 0.0%

FMHI stock opened at $47.56 on Monday. First Trust Municipal High Income ETF has a 12 month low of $45.85 and a 12 month high of $48.73. The company has a 50-day moving average price of $48.22 and a 200 day moving average price of $48.14.

First Trust Municipal High Income ETF Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 21st will be given a dividend of $0.177 per share. The ex-dividend date is Tuesday, July 21st.

About First Trust Municipal High Income ETF

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.