First Trust Municipal High Income ETF (NASDAQ:FMHI) Short Interest Update

First Trust Municipal High Income ETF (NASDAQ:FMHI) was the target of a large drop in short interest in February. As of February 15th, there was short interest totalling 31,900 shares, a drop of 54.0% from the January 31st total of 69,300 shares. Based on an average daily volume of 88,100 shares, the days-to-cover ratio is presently 0.4 days.

First Trust Municipal High Income ETF Price Performance

NASDAQ FMHI traded down $0.04 on Friday, reaching $48.80. 182,816 shares of the stock were exchanged, compared to its average volume of 89,367. First Trust Municipal High Income ETF has a one year low of $47.33 and a one year high of $49.51. The company’s 50-day simple moving average is $48.37 and its two-hundred day simple moving average is $48.78.

First Trust Municipal High Income ETF Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were issued a $0.163 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.96 dividend on an annualized basis and a yield of 4.01%.

Hedge Funds Weigh In On First Trust Municipal High Income ETF

Large investors have recently added to or reduced their stakes in the company. Stifel Financial Corp increased its holdings in shares of First Trust Municipal High Income ETF by 244.8% during the third quarter. Stifel Financial Corp now owns 21,154 shares of the company’s stock valued at $1,045,000 after acquiring an additional 15,019 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of First Trust Municipal High Income ETF by 209.2% during the third quarter. JPMorgan Chase & Co. now owns 106,235 shares of the company’s stock valued at $5,248,000 after acquiring an additional 71,872 shares in the last quarter. Allworth Financial LP acquired a new position in shares of First Trust Municipal High Income ETF during the fourth quarter valued at about $640,000. Benjamin Edwards Inc. increased its holdings in shares of First Trust Municipal High Income ETF by 293.3% during the third quarter. Benjamin Edwards Inc. now owns 7,531 shares of the company’s stock valued at $372,000 after acquiring an additional 5,616 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of First Trust Municipal High Income ETF by 186.1% during the third quarter. HighTower Advisors LLC now owns 172,366 shares of the company’s stock valued at $8,513,000 after acquiring an additional 112,110 shares in the last quarter.

About First Trust Municipal High Income ETF

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.