First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Short Interest Down 82.9% in February

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) was the target of a significant decline in short interest in February. As of February 13th, there was short interest totaling 1,656 shares, a decline of 82.9% from the January 29th total of 9,673 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 4,059 shares, the short-interest ratio is presently 0.4 days. Based on an average daily volume of 4,059 shares, the short-interest ratio is presently 0.4 days. Approximately 0.2% of the company’s stock are short sold.

First Trust New York Municipal High Income ETF Stock Performance

FMNY remained flat at $27.07 during trading hours on Wednesday. 9,109 shares of the company were exchanged, compared to its average volume of 6,849. First Trust New York Municipal High Income ETF has a 1-year low of $24.98 and a 1-year high of $27.14. The business’s fifty day moving average price is $26.85 and its two-hundred day moving average price is $26.63.

First Trust New York Municipal High Income ETF Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be given a dividend of $0.084 per share. The ex-dividend date of this dividend is Friday, February 20th. This is a positive change from First Trust New York Municipal High Income ETF’s previous monthly dividend of $0.08. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Cetera Investment Advisers acquired a new stake in First Trust New York Municipal High Income ETF during the 4th quarter valued at approximately $380,000. Kestra Advisory Services LLC acquired a new position in shares of First Trust New York Municipal High Income ETF in the 4th quarter valued at approximately $181,000. Commonwealth Equity Services LLC boosted its stake in shares of First Trust New York Municipal High Income ETF by 38.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 19,891 shares of the company’s stock valued at $531,000 after buying an additional 5,515 shares during the last quarter. LPL Financial LLC acquired a new stake in shares of First Trust New York Municipal High Income ETF during the fourth quarter worth approximately $265,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of First Trust New York Municipal High Income ETF during the fourth quarter worth approximately $330,000.

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.