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 recipient of a large decline in short interest in the month of February. As of February 13th, there was short interest totaling 1,656 shares, a decline of 82.9% from the January 29th total of 9,673 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average trading volume of 4,059 shares, the short-interest ratio is currently 0.4 days. Based on an average trading volume of 4,059 shares, the short-interest ratio is currently 0.4 days. Approximately 0.2% of the company’s shares are short sold.

First Trust New York Municipal High Income ETF Price Performance

Shares of First Trust New York Municipal High Income ETF stock remained flat at $27.07 during trading hours on Wednesday. The company’s stock had a trading volume of 9,109 shares, compared to its average volume of 6,849. First Trust New York Municipal High Income ETF has a one year low of $24.98 and a one year high of $27.14. The company’s 50-day moving average is $26.85 and its two-hundred day moving average is $26.63.

First Trust New York Municipal High Income ETF Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 20th will be paid a $0.084 dividend. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, February 20th. This is a positive change from First Trust New York Municipal High Income ETF’s previous monthly dividend of $0.08.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Magnus Financial Group LLC grew its holdings in First Trust New York Municipal High Income ETF by 82.1% in the third quarter. Magnus Financial Group LLC now owns 320,049 shares of the company’s stock valued at $8,476,000 after purchasing an additional 144,300 shares during the period. Flow Traders U.S. LLC purchased a new stake in shares of First Trust New York Municipal High Income ETF during the 3rd quarter valued at $1,420,000. Goldman Sachs Group Inc. acquired a new stake in shares of First Trust New York Municipal High Income ETF during the 4th quarter worth $330,000. Jane Street Group LLC purchased a new position in shares of First Trust New York Municipal High Income ETF in the 1st quarter worth $386,000. Finally, Commonwealth Equity Services LLC boosted its holdings in First Trust New York Municipal High Income ETF by 38.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 19,891 shares of the company’s stock valued at $531,000 after acquiring an additional 5,515 shares during the last quarter.

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.