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 target of a large decline in short interest in August. As of August 14th, there was short interest totaling 18,418 shares, a decline of 50.6% from the July 30th total of 37,281 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average daily volume of 8,535 shares, the short-interest ratio is presently 2.2 days.

First Trust New York Municipal High Income ETF Stock Down 0.3%

Shares of NYSEARCA:FMNY traded down $0.09 during trading on Friday, reaching $26.08. 5,240 shares of the stock were exchanged, compared to its average volume of 8,057. The firm’s 50-day moving average price is $26.54 and its 200 day moving average price is $26.69. First Trust New York Municipal High Income ETF has a 12-month low of $25.78 and a 12-month high of $27.22.

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

A number of hedge funds have recently made changes to their positions in FMNY. Flynn Zito Capital Management LLC bought a new position in shares of First Trust New York Municipal High Income ETF during the first quarter worth about $4,036,000. Hennion & Walsh Asset Management Inc. increased its holdings in First Trust New York Municipal High Income ETF by 11.6% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 200,577 shares of the company’s stock valued at $5,396,000 after buying an additional 20,918 shares during the last quarter. Cetera Investment Advisers increased its holdings in First Trust New York Municipal High Income ETF by 94.4% in the first quarter. Cetera Investment Advisers now owns 27,693 shares of the company’s stock valued at $732,000 after buying an additional 13,451 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in First Trust New York Municipal High Income ETF by 38.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 19,891 shares of the company’s stock valued at $531,000 after buying an additional 5,515 shares in the last quarter. Finally, LPL Financial LLC acquired a new stake in First Trust New York Municipal High Income ETF during the fourth quarter valued at approximately $265,000.

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.