First Trust Municipal High Income ETF (NASDAQ:FMHI) Short Interest Update

First Trust Municipal High Income ETF (NASDAQ:FMHI) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 18,323 shares, a drop of 86.6% from the June 15th total of 137,095 shares. Based on an average daily volume of 88,023 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the company’s shares are short sold.

Hedge Funds Weigh In On First Trust Municipal High Income ETF

Several hedge funds and other institutional investors have recently modified their holdings of FMHI. AQR Capital Management LLC bought a new stake in shares of First Trust Municipal High Income ETF in the first quarter worth about $377,000. Baird Financial Group Inc. raised its position in First Trust Municipal High Income ETF by 7.6% during the 2nd quarter. Baird Financial Group Inc. now owns 6,400 shares of the company’s stock valued at $299,000 after purchasing an additional 450 shares during the last quarter. Jane Street Group LLC raised its position in First Trust Municipal High Income ETF by 888.7% during the 2nd quarter. Jane Street Group LLC now owns 131,035 shares of the company’s stock valued at $6,119,000 after purchasing an additional 117,782 shares during the last quarter. MML Investors Services LLC lifted its holdings in First Trust Municipal High Income ETF by 1.4% in the 2nd quarter. MML Investors Services LLC now owns 101,612 shares of the company’s stock worth $4,745,000 after buying an additional 1,414 shares during the period. Finally, Orion Porfolio Solutions LLC lifted its holdings in First Trust Municipal High Income ETF by 4.7% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 8,184 shares of the company’s stock worth $382,000 after buying an additional 365 shares during the period.

First Trust Municipal High Income ETF Trading Up 0.1%

NASDAQ:FMHI traded up $0.04 during midday trading on Friday, reaching $48.38. 61,036 shares of the stock traded hands, compared to its average volume of 112,596. The company has a fifty day moving average of $48.22 and a 200 day moving average of $48.13. First Trust Municipal High Income ETF has a 12 month low of $45.83 and a 12 month high of $48.73.

First Trust Municipal High Income ETF Increases Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were given a $0.177 dividend. The ex-dividend date was Thursday, June 25th. This is a positive change from First Trust Municipal High Income ETF’s previous dividend of $0.18.

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.