First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Shares Shorted: Short Interest Down 82.4% in October

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) saw a significant decline in short interest in October. As of October 15th, there was short interest totaling 2,064 shares, a decline of 82.4% from the September 30th total of 11,700 shares. Based on an average daily volume of 69,042 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.2% of the company’s stock are sold short.

First Trust New York Municipal High Income ETF Price Performance

FMNY stock traded up $0.02 during midday trading on Thursday, hitting $25.58. The stock had a trading volume of 3,739 shares, compared to its average volume of 11,507. The business has a 50-day moving average of $25.43 and a two-hundred day moving average of $26.40. First Trust New York Municipal High Income ETF has a 52-week low of $24.49 and a 52-week high of $27.22.

Institutional Trading of First Trust New York Municipal High Income ETF

A number of hedge funds and other institutional investors have recently modified their holdings of FMNY. Platform Technology Partners boosted its stake in First Trust New York Municipal High Income ETF by 33.0% during the first quarter. Platform Technology Partners now owns 14,942 shares of the company’s stock worth $395,000 after acquiring an additional 3,710 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in shares of First Trust New York Municipal High Income ETF during the first quarter valued at approximately $204,000. Cetera Investment Advisers lifted its holdings in shares of First Trust New York Municipal High Income ETF by 94.4% during the first quarter. Cetera Investment Advisers now owns 27,693 shares of the company’s stock valued at $732,000 after purchasing an additional 13,451 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of First Trust New York Municipal High Income ETF by 11.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 200,577 shares of the company’s stock valued at $5,396,000 after purchasing an additional 20,918 shares during the last quarter. Finally, Magnus Financial Group LLC lifted its holdings in shares of First Trust New York Municipal High Income ETF by 12.9% during the third quarter. Magnus Financial Group LLC now owns 472,922 shares of the company’s stock valued at $11,771,000 after purchasing an additional 54,053 shares during the last quarter.

About First Trust New York Municipal High Income ETF

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.