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

by · The Markets Daily

First Trust Municipal High Income ETF (NASDAQ:FMHI – Get Free Report) saw a large increase in short interest in the month of October. As of October 30th, there was short interest totaling 312,838 shares, an increase of 430.3% from the October 15th total of 58,997 shares. Based on an average daily volume of 432,892 shares, the days-to-cover ratio is presently 0.7 days. Approximately 1.3% of the shares of the company are short sold.

Institutional Investors Weigh In On First Trust Municipal High Income ETF

Several institutional investors have recently added to or reduced their stakes in FMHI. Glen Eagle Advisors LLC bought a new position in First Trust Municipal High Income ETF during the 1st quarter valued at approximately $91,000. Parallel Advisors LLC purchased a new stake in First Trust Municipal High Income ETF in the 1st quarter worth approximately $161,000. Western Wealth Management LLC purchased a new stake in First Trust Municipal High Income ETF in the 1st quarter worth approximately $162,000. Triumph Capital Management grew its position in shares of First Trust Municipal High Income ETF by 152.1% in the 2nd quarter. Triumph Capital Management now owns 4,475 shares of the company’s stock worth $217,000 after buying an additional 2,700 shares during the last quarter. Finally, Benjamin Edwards Inc. bought a new stake in shares of First Trust Municipal High Income ETF in the 3rd quarter worth approximately $202,000.

First Trust Municipal High Income ETF Price Performance

NASDAQ FMHI traded down $0.41 during trading on Thursday, reaching $46.34. The company’s stock had a trading volume of 304,082 shares, compared to its average volume of 168,340. The firm has a fifty day moving average of $45.79 and a 200 day moving average of $47.48. First Trust Municipal High Income ETF has a one year low of $44.34 and a one year high of $48.73.

First Trust Municipal High Income ETF Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, October 21st were given a $0.1790 dividend. The ex-dividend date was Wednesday, October 21st. This represents a $2.15 annualized dividend and a yield of 4.6%.

First Trust Municipal High Income ETF Company Profile

(Get Free Report)

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.

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