First Trust Municipal High Income ETF (NASDAQ:FMHI) Shares Shorted: Short Interest Down 55.6% in September

First Trust Municipal High Income ETF (NASDAQ:FMHI) saw a significant decrease in short interest in September. As of September 15th, there was short interest totaling 35,413 shares, a decrease of 55.6% from the August 31st total of 79,811 shares. Based on an average trading volume of 131,273 shares, the short-interest ratio is presently 0.3 days. Approximately 0.2% of the company’s shares are short sold.

First Trust Municipal High Income ETF Price Performance

NASDAQ FMHI traded down $0.47 during mid-day trading on Monday, reaching $44.70. 191,946 shares of the company’s stock traded hands, compared to its average volume of 121,877. First Trust Municipal High Income ETF has a 1-year low of $44.66 and a 1-year high of $48.73. The company has a fifty day simple moving average of $47.15 and a 200-day simple moving average of $47.77.

First Trust Municipal High Income ETF Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th will be given a $0.1790 dividend. This is a positive change from First Trust Municipal High Income ETF’s previous monthly dividend of $0.1780. The ex-dividend date is Thursday, September 24th. This represents a $2.15 annualized dividend and a yield of 4.8%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FMHI. Bank of America Corp DE raised its stake in shares of First Trust Municipal High Income ETF by 23.7% in the 1st quarter. Bank of America Corp DE now owns 798,920 shares of the company’s stock worth $37,981,000 after buying an additional 153,170 shares in the last quarter. Meeder Advisory Services Inc. lifted its stake in First Trust Municipal High Income ETF by 11.0% during the first quarter. Meeder Advisory Services Inc. now owns 542,231 shares of the company’s stock valued at $25,778,000 after buying an additional 53,886 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of First Trust Municipal High Income ETF by 29.2% in the first quarter. Cetera Investment Advisers now owns 359,142 shares of the company’s stock worth $17,074,000 after buying an additional 81,197 shares during the period. NewEdge Advisors LLC lifted its stake in First Trust Municipal High Income ETF by 10.2% in the 2nd quarter. NewEdge Advisors LLC now owns 296,778 shares of the company’s stock worth $14,391,000 after acquiring an additional 27,555 shares in the last quarter. Finally, SlateStone Wealth LLC grew its position in 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 valued at $12,904,000 after purchasing an additional 24,889 shares in the last quarter.

First Trust Municipal High Income ETF Company Profile

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.