First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Short Interest Down 50.6% in August

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) was the recipient of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 18,418 shares, a drop of 50.6% from the July 30th total of 37,281 shares. Based on an average daily volume of 8,535 shares, the days-to-cover ratio is presently 2.2 days. Approximately 1.3% of the shares of the company are short sold.

Hedge Funds Weigh In On First Trust New York Municipal High Income ETF

Institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC purchased a new stake in First Trust New York Municipal High Income ETF in the first quarter worth $386,000. Flow Traders U.S. LLC purchased a new position in shares of First Trust New York Municipal High Income ETF during the 3rd quarter valued at $1,420,000. Goldman Sachs Group Inc. bought a new position in shares of First Trust New York Municipal High Income ETF during the 4th quarter worth $330,000. LPL Financial LLC bought a new position in shares of First Trust New York Municipal High Income ETF during the 4th quarter worth $265,000. Finally, Commonwealth Equity Services LLC increased its holdings in First Trust New York Municipal High Income ETF by 38.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 19,891 shares of the company’s stock worth $531,000 after acquiring an additional 5,515 shares during the last quarter.

First Trust New York Municipal High Income ETF Stock Performance

NYSEARCA FMNY traded down $0.09 during trading hours on Friday, reaching $26.08. 5,240 shares of the company were exchanged, compared to its average volume of 8,057. The business’s 50 day simple moving average is $26.54 and its 200-day simple moving average is $26.69. First Trust New York Municipal High Income ETF has a 1 year low of $25.78 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.