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

First Trust Municipal High Income ETF (NASDAQ:FMHI) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totaling 17,121 shares, a drop of 70.1% from the March 31st total of 57,201 shares. Based on an average daily volume of 149,741 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the shares of the stock are short sold.

First Trust Municipal High Income ETF Stock Up 0.0%

Shares of FMHI opened at $48.14 on Friday. First Trust Municipal High Income ETF has a 52-week low of $45.83 and a 52-week high of $48.73. The stock has a fifty day simple moving average of $48.08 and a two-hundred day simple moving average of $48.03.

First Trust Municipal High Income ETF Announces Dividend

The business also recently announced a dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, April 21st will be paid a $0.175 dividend. The ex-dividend date of this dividend is Tuesday, April 21st.

Hedge Funds Weigh In On First Trust Municipal High Income ETF

Several institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its stake in First Trust Municipal High Income ETF by 21.3% during the third quarter. Farther Finance Advisors LLC now owns 1,207 shares of the company’s stock valued at $57,000 after buying an additional 212 shares in the last quarter. Advyzon Investment Management LLC lifted its position in shares of First Trust Municipal High Income ETF by 2.3% in the third quarter. Advyzon Investment Management LLC now owns 9,783 shares of the company’s stock worth $465,000 after purchasing an additional 223 shares in the last quarter. Arbor Capital Management Inc. ADV lifted its position in shares of First Trust Municipal High Income ETF by 1.7% in the third quarter. Arbor Capital Management Inc. ADV now owns 15,578 shares of the company’s stock worth $740,000 after purchasing an additional 257 shares in the last quarter. Hedeker Wealth LLC lifted its position in shares of First Trust Municipal High Income ETF by 3.1% in the third quarter. Hedeker Wealth LLC now owns 9,792 shares of the company’s stock worth $465,000 after purchasing an additional 297 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its position in shares of First Trust Municipal High Income ETF by 1.6% in the first quarter. Nations Financial Group Inc. IA ADV now owns 19,160 shares of the company’s stock worth $911,000 after purchasing an additional 300 shares in the last quarter.

About First Trust Municipal High Income ETF

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.