First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Short Interest Update
by Amy Steele · The Cerbat GemFirst Trust New York Municipal High Income ETF (NYSEARCA:FMNY – Get Free Report) saw a large increase in short interest in March. As of March 31st, there was short interest totaling 26,945 shares, an increase of 248.6% from the March 15th total of 7,729 shares. Approximately 1.9% of the shares of the stock are short sold. Based on an average trading volume of 19,689 shares, the days-to-cover ratio is presently 1.4 days.
First Trust New York Municipal High Income ETF Stock Performance
FMNY traded up $0.05 during midday trading on Friday, hitting $26.75. 10,865 shares of the company traded hands, compared to its average volume of 9,758. The business has a 50 day simple moving average of $26.83 and a two-hundred day simple moving average of $26.76. First Trust New York Municipal High Income ETF has a 52-week low of $25.22 and a 52-week high of $27.22.
Institutional Investors Weigh In On First Trust New York Municipal High Income ETF
Several institutional investors have recently bought and sold shares of FMNY. Kestra Advisory Services LLC acquired a new position in shares of First Trust New York Municipal High Income ETF during the fourth quarter valued at approximately $181,000. LPL Financial LLC acquired a new stake in shares of First Trust New York Municipal High Income ETF in the fourth quarter worth approximately $265,000. Goldman Sachs Group Inc. purchased a new stake in shares of First Trust New York Municipal High Income ETF during the fourth quarter worth approximately $330,000. Cetera Investment Advisers acquired a new position in First Trust New York Municipal High Income ETF in the 4th quarter valued at $380,000. Finally, Jane Street Group LLC purchased a new position in First Trust New York Municipal High Income ETF in the 1st quarter valued at $386,000.
About First Trust New York Municipal High Income ETF
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.