First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Short Interest Up 357.8% in February

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) was the recipient of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 7,581 shares, an increase of 357.8% from the February 12th total of 1,656 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily volume of 7,220 shares, the days-to-cover ratio is currently 1.1 days. Based on an average daily volume of 7,220 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.7% of the shares of the company are short sold.

First Trust New York Municipal High Income ETF Trading Down 0.2%

NYSEARCA:FMNY traded down $0.05 during mid-day trading on Tuesday, reaching $26.92. 1,842 shares of the stock were exchanged, compared to its average volume of 7,301. First Trust New York Municipal High Income ETF has a 1 year low of $24.98 and a 1 year high of $27.22. The company has a 50 day simple moving average of $26.91 and a 200-day simple moving average of $26.70.

First Trust New York Municipal High Income ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 20th were given a dividend of $0.084 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from First Trust New York Municipal High Income ETF’s previous monthly dividend of $0.08. The ex-dividend date was Friday, February 20th.

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

A number of institutional investors have recently modified their holdings of FMNY. Hennion & Walsh Asset Management Inc. raised its position in First Trust New York Municipal High Income ETF by 2.1% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 107,277 shares of the company’s stock valued at $2,841,000 after purchasing an additional 2,177 shares during the last quarter. Commonwealth Equity Services LLC grew its position in 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 worth $531,000 after purchasing an additional 5,515 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in First Trust New York Municipal High Income ETF during the 4th quarter worth $181,000. Magnus Financial Group LLC increased its stake in First Trust New York Municipal High Income ETF by 2.9% in the fourth 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. Finally, LPL Financial LLC acquired a new position in First Trust New York Municipal High Income ETF in the fourth quarter valued at $265,000.

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.