First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Stock Short Interest Climbs 569.1%

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) was the recipient of a large increase in short interest in the month of October. As of October 30th, there was short interest totaling 13,811 shares, an increase of 569.1% from the October 15th total of 2,064 shares. Currently, 1.5% of the shares of the company are short sold. Based on an average daily volume of 10,506 shares, the days-to-cover ratio is currently 1.3 days.

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

A number of hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC acquired a new position in shares of First Trust New York Municipal High Income ETF in the 3rd quarter valued at $304,000. Magnus Financial Group LLC raised its position in First Trust New York Municipal High Income ETF by 12.9% in 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 during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in First Trust New York Municipal High Income ETF by 11.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 200,577 shares of the company’s stock valued at $5,396,000 after purchasing an additional 20,918 shares during the last quarter. Cetera Investment Advisers raised its position in First Trust New York Municipal High Income ETF by 94.4% in the 1st quarter. Cetera Investment Advisers now owns 27,693 shares of the company’s stock valued at $732,000 after purchasing an additional 13,451 shares during the last quarter. Finally, Flynn Zito Capital Management LLC acquired a new stake in First Trust New York Municipal High Income ETF during the 1st quarter worth $4,036,000.

First Trust New York Municipal High Income ETF Trading Down 0.5%

NYSEARCA:FMNY traded down $0.12 during mid-day trading on Thursday, reaching $25.83. 5,626 shares of the stock were exchanged, compared to its average volume of 11,907. The company has a 50 day simple moving average of $25.37 and a 200-day simple moving average of $26.35. First Trust New York Municipal High Income ETF has a 1 year low of $24.49 and a 1 year 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.