Short Interest in First Trust Municipal High Income ETF (NASDAQ:FMHI) Decreases By 43.1%

First Trust Municipal High Income ETF (NASDAQ:FMHI) saw a significant drop in short interest in February. As of February 27th, there was short interest totaling 47,760 shares, a drop of 43.1% from the February 12th total of 83,882 shares. Based on an average daily trading volume, of 93,997 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.3% of the shares of the stock are short sold. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 93,997 shares, the days-to-cover ratio is presently 0.5 days.

First Trust Municipal High Income ETF Stock Performance

Shares of First Trust Municipal High Income ETF stock traded down $0.11 during trading on Thursday, reaching $47.96. The company’s stock had a trading volume of 107,444 shares, compared to its average volume of 122,040. The stock has a 50-day moving average price of $48.22 and a two-hundred day moving average price of $47.86. First Trust Municipal High Income ETF has a one year low of $44.80 and a one year high of $49.05.

First Trust Municipal High Income ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 20th were paid a $0.175 dividend. This is a boost from First Trust Municipal High Income ETF’s previous monthly dividend of $0.17. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, February 20th.

Hedge Funds Weigh In On First Trust Municipal High Income ETF

A number of large investors have recently modified their holdings of FMHI. AQR Capital Management LLC bought a new position in First Trust Municipal High Income ETF in the 1st quarter worth approximately $377,000. Envestnet Asset Management Inc. increased its stake in shares of First Trust Municipal High Income ETF by 2.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 70,809 shares of the company’s stock valued at $3,307,000 after buying an additional 1,561 shares during the period. AE Wealth Management LLC increased its stake in shares of First Trust Municipal High Income ETF by 28.7% in the 2nd quarter. AE Wealth Management LLC now owns 7,735 shares of the company’s stock valued at $361,000 after buying an additional 1,726 shares during the period. AJ Advisors LLC bought a new stake in shares of First Trust Municipal High Income ETF during the second quarter worth $2,760,000. Finally, Avantax Advisory Services Inc. raised its position in shares of First Trust Municipal High Income ETF by 20.3% during the second quarter. Avantax Advisory Services Inc. now owns 58,243 shares of the company’s stock worth $2,720,000 after acquiring an additional 9,829 shares during 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.