Short Interest in First Trust Municipal High Income ETF (NASDAQ:FMHI) Grows By 125.1%

First Trust Municipal High Income ETF (NASDAQ:FMHI) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 24,787 shares, a growth of 125.1% from the April 30th total of 11,012 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 100,274 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On First Trust Municipal High Income ETF

Institutional investors have recently added to or reduced their stakes in the company. Glen Eagle Advisors LLC purchased a new position in First Trust Municipal High Income ETF during the 1st quarter valued at approximately $91,000. Camelot Portfolios LLC purchased a new position in First Trust Municipal High Income ETF during the 4th quarter valued at approximately $96,000. Hughes Financial Services LLC grew its holdings in First Trust Municipal High Income ETF by 25.7% during the 3rd quarter. Hughes Financial Services LLC now owns 3,074 shares of the company’s stock valued at $148,000 after buying an additional 629 shares in the last quarter. Parallel Advisors LLC purchased a new position in First Trust Municipal High Income ETF during the 1st quarter valued at approximately $161,000. Finally, Western Wealth Management LLC purchased a new position in First Trust Municipal High Income ETF during the 1st quarter valued at approximately $162,000.

First Trust Municipal High Income ETF Stock Up 0.1%

FMHI traded up $0.07 on Monday, hitting $48.21. 89,720 shares of the company’s stock traded hands, compared to its average volume of 117,561. The company’s 50 day simple moving average is $47.92 and its 200-day simple moving average is $48.02. First Trust Municipal High Income ETF has a one year low of $45.83 and a one year high of $48.73.

First Trust Municipal High Income ETF Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 21st were paid a dividend of $0.176 per share. This is a boost from First Trust Municipal High Income ETF’s previous dividend of $0.18. The ex-dividend date of this dividend was Thursday, May 21st.

First Trust Municipal High Income ETF Company Profile

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.