Short Interest in First Trust Municipal High Income ETF (NASDAQ:FMHI) Rises By 213.8%

First Trust Municipal High Income ETF (NASDAQ:FMHI) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 79,811 shares, an increase of 213.8% from the August 15th total of 25,433 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average daily trading volume, of 202,171 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Trading of First Trust Municipal High Income ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in First Trust Municipal High Income ETF by 23.7% in the first quarter. Bank of America Corp DE now owns 798,920 shares of the company’s stock valued at $37,981,000 after purchasing an additional 153,170 shares during the period. Meeder Advisory Services Inc. lifted its position in shares of First Trust Municipal High Income ETF by 11.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 542,231 shares of the company’s stock worth $25,778,000 after purchasing an additional 53,886 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of First Trust Municipal High Income ETF by 29.2% during the 1st quarter. Cetera Investment Advisers now owns 359,142 shares of the company’s stock worth $17,074,000 after purchasing an additional 81,197 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of First Trust Municipal High Income ETF by 10.2% during the second quarter. NewEdge Advisors LLC now owns 296,778 shares of the company’s stock worth $14,391,000 after purchasing an additional 27,555 shares in the last quarter. Finally, SlateStone Wealth LLC grew its stake in shares of First Trust Municipal High Income ETF by 10.2% during the fourth quarter. SlateStone Wealth LLC now owns 269,208 shares of the company’s stock worth $12,904,000 after purchasing an additional 24,889 shares in the last quarter.

First Trust Municipal High Income ETF Stock Performance

Shares of First Trust Municipal High Income ETF stock traded down $0.03 during trading hours on Monday, hitting $46.32. The company’s stock had a trading volume of 171,345 shares, compared to its average volume of 117,055. The firm has a fifty day moving average of $47.63 and a 200-day moving average of $47.94. First Trust Municipal High Income ETF has a twelve month low of $46.03 and a twelve month high of $48.73.

First Trust Municipal High Income ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 21st were issued a $0.178 dividend. The ex-dividend date was Friday, August 21st. This represents a c) annualized dividend and a dividend yield of 4.6%. This is an increase from First Trust Municipal High Income ETF’s previous monthly 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.