First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Stock Short Interest Falls 82.4%

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 2,064 shares, a decrease of 82.4% from the September 30th total of 11,700 shares. Based on an average daily volume of 69,042 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. boosted its stake in First Trust New York Municipal High Income ETF by 11.6% during 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 in the last quarter. Flynn Zito Capital Management LLC purchased a new position in First Trust New York Municipal High Income ETF in the first quarter valued at about $4,036,000. Magnus Financial Group LLC raised its holdings in shares of First Trust New York Municipal High Income ETF by 12.9% during the 3rd quarter. Magnus Financial Group LLC now owns 472,922 shares of the company’s stock valued at $11,771,000 after purchasing an additional 54,053 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of 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 worth $732,000 after acquiring an additional 13,451 shares in the last quarter. Finally, Platform Technology Partners raised its stake in shares of First Trust New York Municipal High Income ETF by 33.0% in the 1st quarter. Platform Technology Partners now owns 14,942 shares of the company’s stock valued at $395,000 after acquiring an additional 3,710 shares in the last quarter.

First Trust New York Municipal High Income ETF Stock Performance

Shares of FMNY stock traded down $0.05 during mid-day trading on Tuesday, reaching $25.58. The company’s stock had a trading volume of 195 shares, compared to its average volume of 11,409. The company’s 50 day simple moving average is $25.47 and its 200-day simple moving average is $26.42. First Trust New York Municipal High Income ETF has a 12-month low of $24.49 and a 12-month high of $27.22.

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.