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

First Trust Municipal High Income ETF (NASDAQ:FMHI) saw a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 12,661 shares, a drop of 48.9% from the May 14th total of 24,787 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 102,690 shares, the days-to-cover ratio is presently 0.1 days.

First Trust Municipal High Income ETF Stock Down 0.1%

Shares of FMHI stock opened at $48.30 on Friday. The company has a 50-day moving average of $48.06 and a two-hundred day moving average of $48.04. First Trust Municipal High Income ETF has a 1-year low of $45.83 and a 1-year high of $48.73.

First Trust Municipal High Income ETF Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its stake in shares of First Trust Municipal High Income ETF by 3.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,604,484 shares of the company’s stock valued at $76,993,000 after purchasing an additional 51,738 shares during the period. Morgan Stanley boosted its stake in shares of First Trust Municipal High Income ETF by 9.7% in the fourth quarter. Morgan Stanley now owns 1,321,787 shares of the company’s stock valued at $63,359,000 after purchasing an additional 117,314 shares during the period. LPL Financial LLC boosted its stake in shares of First Trust Municipal High Income ETF by 12.5% in the fourth quarter. LPL Financial LLC now owns 1,167,716 shares of the company’s stock valued at $55,974,000 after purchasing an additional 129,684 shares during the period. Wells Fargo & Company MN boosted its stake in shares of First Trust Municipal High Income ETF by 15.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,145,777 shares of the company’s stock valued at $54,922,000 after purchasing an additional 154,624 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of First Trust Municipal High Income ETF by 23.7% in the first quarter. Bank of America Corp DE now owns 798,920 shares of the company’s stock valued at $37,981,000 after purchasing an additional 153,170 shares during the period.

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.