First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Large Drop in Short Interest

First Trust Municipal High Income ETF (NASDAQ:FMHI) was the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 42,571 shares, a decline of 69.2% from the July 15th total of 138,409 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average trading volume of 100,975 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On First Trust Municipal High Income ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Glen Eagle Advisors LLC acquired a new position in shares of First Trust Municipal High Income ETF during the first quarter worth $91,000. Camelot Portfolios LLC bought a new position in First Trust Municipal High Income ETF during the 4th quarter worth $96,000. Parallel Advisors LLC bought a new position in First Trust Municipal High Income ETF during the 1st quarter worth $161,000. Western Wealth Management LLC acquired a new position in First Trust Municipal High Income ETF during the 1st quarter worth about $162,000. Finally, FSB Premier Wealth Management Inc. lifted its holdings in First Trust Municipal High Income ETF by 14.2% during the 4th quarter. FSB Premier Wealth Management Inc. now owns 4,888 shares of the company’s stock worth $234,000 after buying an additional 608 shares during the period.

First Trust Municipal High Income ETF Stock Performance

Shares of FMHI stock traded down $0.12 during mid-day trading on Friday, reaching $47.86. 32,311 shares of the stock traded hands, compared to its average volume of 110,457. The stock’s fifty day simple moving average is $48.17 and its two-hundred day simple moving average is $48.11. First Trust Municipal High Income ETF has a 1-year low of $45.94 and a 1-year high of $48.73.

First Trust Municipal High Income ETF Dividend Announcement

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