First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Short Interest Down 72.5% in December

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 680 shares, a drop of 72.5% from the December 15th total of 2,477 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 7,545 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 7,545 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the company’s stock are sold short.

First Trust New York Municipal High Income ETF Stock Performance

Shares of FMNY traded down $0.01 during trading hours on Tuesday, hitting $26.85. The stock had a trading volume of 10,583 shares, compared to its average volume of 8,266. First Trust New York Municipal High Income ETF has a 12 month low of $24.98 and a 12 month high of $26.98. The stock has a fifty day moving average price of $26.74 and a 200 day moving average price of $26.39.

First Trust New York Municipal High Income ETF Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 21st were paid a $0.081 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a c) annualized dividend and a dividend yield of 3.6%.

Hedge Funds Weigh In On First Trust New York Municipal High Income ETF

Several large investors have recently made changes to their positions in FMNY. Magnus Financial Group LLC boosted its stake in shares of First Trust New York Municipal High Income ETF by 82.1% during the 3rd quarter. Magnus Financial Group LLC now owns 320,049 shares of the company’s stock worth $8,476,000 after purchasing an additional 144,300 shares during the period. Flow Traders U.S. LLC bought a new stake in First Trust New York Municipal High Income ETF in the third quarter worth about $1,420,000. Jane Street Group LLC boosted its position in shares of First Trust New York Municipal High Income ETF by 236.5% during the second quarter. Jane Street Group LLC now owns 49,379 shares of the company’s stock valued at $1,282,000 after buying an additional 34,704 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of First Trust New York Municipal High Income ETF by 2.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 107,277 shares of the company’s stock valued at $2,841,000 after buying an additional 2,177 shares during the last quarter.

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.