First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Stock Short Interest Rises 569.1%

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) saw a large increase in short interest in October. As of October 30th, there was short interest totaling 13,811 shares, an increase of 569.1% from the October 15th total of 2,064 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average daily volume of 10,506 shares, the short-interest ratio is presently 1.3 days.

First Trust New York Municipal High Income ETF Price Performance

Shares of NYSEARCA:FMNY opened at $25.98 on Wednesday. The business has a 50-day simple moving average of $25.37 and a two-hundred day simple moving average of $26.36. First Trust New York Municipal High Income ETF has a fifty-two week low of $24.49 and a fifty-two week high of $27.22.

Institutional Trading of First Trust New York Municipal High Income ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC bought a new stake in First Trust New York Municipal High Income ETF in the third quarter worth $304,000. Cetera Investment Advisers raised its position in First Trust New York Municipal High Income ETF by 94.4% during the 1st quarter. Cetera Investment Advisers now owns 27,693 shares of the company’s stock valued at $732,000 after purchasing an additional 13,451 shares in the last quarter. Flynn Zito Capital Management LLC purchased a new stake in First Trust New York Municipal High Income ETF in the first quarter worth about $4,036,000. Hennion & Walsh Asset Management Inc. grew its holdings in First Trust New York Municipal High Income ETF by 11.6% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 200,577 shares of the company’s stock worth $5,396,000 after acquiring an additional 20,918 shares in the last quarter. Finally, Magnus Financial Group LLC increased its holdings in First Trust New York Municipal High Income ETF by 12.9% during the third quarter. Magnus Financial Group LLC now owns 472,922 shares of the company’s stock valued at $11,771,000 after buying an additional 54,053 shares during the period.

About First Trust New York Municipal High Income ETF

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.