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

First Trust Municipal High Income ETF (NASDAQ:FMHI) was the recipient of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 98,750 shares, an increase of 106.8% from the February 26th total of 47,760 shares. Based on an average daily trading volume, of 118,694 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.5% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its holdings in shares of 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 during the last quarter. Advyzon Investment Management LLC increased its holdings in First Trust Municipal High Income ETF by 2.3% during the 3rd 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 raised its stake 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 during the last quarter. Hedeker Wealth LLC raised its stake 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 during the last quarter. Finally, Altus Wealth Group LLC lifted its holdings in shares of First Trust Municipal High Income ETF by 4.5% in the fourth quarter. Altus Wealth Group LLC now owns 7,484 shares of the company’s stock valued at $359,000 after purchasing an additional 320 shares in the last quarter.

First Trust Municipal High Income ETF Trading Down 0.6%

FMHI traded down $0.30 during midday trading on Thursday, hitting $47.29. The company had a trading volume of 81,486 shares, compared to its average volume of 122,489. The stock’s 50 day moving average price is $48.17 and its 200 day moving average price is $47.97. First Trust Municipal High Income ETF has a 52 week low of $44.80 and a 52 week high of $48.73.

First Trust Municipal High Income ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 20th were issued a dividend of $0.175 per share. This is a positive change from First Trust Municipal High Income ETF’s previous monthly dividend of $0.17. This represents a c) annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Friday, February 20th.

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.