First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Significant Increase in Short Interest

First Trust Municipal High Income ETF (NASDAQ:FMHI) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 85,300 shares, an increase of 858.4% from the March 15th total of 8,900 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily volume of 97,300 shares, the days-to-cover ratio is presently 0.9 days.

First Trust Municipal High Income ETF Trading Up 1.2 %

NASDAQ FMHI opened at $46.44 on Tuesday. The business’s fifty day moving average is $48.07 and its 200-day moving average is $48.47. First Trust Municipal High Income ETF has a one year low of $44.80 and a one year high of $49.51.

First Trust Municipal High Income ETF Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were paid a $0.163 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend was Thursday, March 27th.

Institutional Investors Weigh In On First Trust Municipal High Income ETF

A number of hedge funds have recently modified their holdings of FMHI. Creative Financial Designs Inc. ADV lifted its holdings in First Trust Municipal High Income ETF by 187.4% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 868 shares of the company’s stock valued at $42,000 after purchasing an additional 566 shares during the last quarter. Coppell Advisory Solutions LLC grew its position in shares of First Trust Municipal High Income ETF by 180.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,293 shares of the company’s stock valued at $62,000 after purchasing an additional 832 shares in the last quarter. Duncker Streett & Co. Inc. bought a new position in First Trust Municipal High Income ETF in the 4th quarter worth about $67,000. Synergy Investment Management LLC purchased a new stake in First Trust Municipal High Income ETF in the 4th quarter worth approximately $124,000. Finally, Larson Financial Group LLC raised its holdings in shares of First Trust Municipal High Income ETF by 105.0% in the 4th quarter. Larson Financial Group LLC now owns 3,803 shares of the company’s stock valued at $184,000 after acquiring an additional 1,948 shares in 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.