First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Short Interest Up 1,435.4% in January

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) was the target of a significant growth in short interest in January. As of January 30th, there was short interest totaling 9,673 shares, a growth of 1,435.4% from the January 15th total of 630 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily volume of 7,043 shares, the short-interest ratio is presently 1.4 days. Based on an average daily volume of 7,043 shares, the short-interest ratio is presently 1.4 days. Currently, 0.9% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC purchased a new stake in shares of First Trust New York Municipal High Income ETF in the 1st quarter valued at approximately $386,000. 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 worth $2,841,000 after purchasing an additional 2,177 shares in the last quarter. Magnus Financial Group LLC increased its holdings in First Trust New York Municipal High Income ETF by 82.1% in the third quarter. Magnus Financial Group LLC now owns 320,049 shares of the company’s stock valued at $8,476,000 after buying an additional 144,300 shares during the last quarter. Flow Traders U.S. LLC purchased a new position in First Trust New York Municipal High Income ETF in the third quarter valued at $1,420,000. Finally, Emergent Wealth Advisors LLC acquired a new stake in First Trust New York Municipal High Income ETF in the fourth quarter valued at $407,000.

First Trust New York Municipal High Income ETF Trading Up 0.3%

Shares of FMNY stock traded up $0.08 on Tuesday, hitting $27.03. 2,907 shares of the stock traded hands, compared to its average volume of 6,874. First Trust New York Municipal High Income ETF has a twelve month low of $24.98 and a twelve month high of $27.03. The firm’s 50-day moving average price is $26.75 and its two-hundred day moving average price is $26.53.

First Trust New York Municipal High Income ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, January 21st were issued a $0.083 dividend. The ex-dividend date was Wednesday, January 21st. This represents a c) annualized dividend and a dividend yield of 3.7%. This is an increase from First Trust New York Municipal High Income ETF’s previous monthly dividend of $0.08.

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.