First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Short Interest Update

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) was the recipient of a large decline in short interest in May. As of May 29th, there was short interest totaling 18,485 shares, a decline of 38.2% from the May 14th total of 29,905 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average trading volume of 7,596 shares, the short-interest ratio is currently 2.4 days.

Institutional Trading of First Trust New York Municipal High Income ETF

Hedge funds have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. raised its stake in First Trust New York Municipal High Income ETF by 44.6% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 155,121 shares of the company’s stock valued at $4,141,000 after acquiring an additional 47,844 shares in the last quarter. Emergent Wealth Advisors LLC bought a new stake in First Trust New York Municipal High Income ETF during the 4th quarter valued at $407,000. Magnus Financial Group LLC increased its position in shares of First Trust New York Municipal High Income ETF by 2.9% during the 4th quarter. Magnus Financial Group LLC now owns 329,205 shares of the company’s stock valued at $8,788,000 after purchasing an additional 9,156 shares during the period. Commonwealth Equity Services LLC increased its position in shares of First Trust New York Municipal High Income ETF by 38.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 19,891 shares of the company’s stock valued at $531,000 after purchasing an additional 5,515 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of First Trust New York Municipal High Income ETF during the 1st quarter valued at $386,000.

First Trust New York Municipal High Income ETF Price Performance

Shares of First Trust New York Municipal High Income ETF stock opened at $26.78 on Monday. The business’s fifty day moving average price is $26.69 and its two-hundred day moving average price is $26.76. First Trust New York Municipal High Income ETF has a 1-year low of $25.61 and a 1-year high of $27.22.

First Trust New York Municipal High Income ETF Company Profile

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.