First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Short Interest Down 82.9% in February

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) was the target of a significant decline in short interest during 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. Based on an average daily volume of 4,059 shares, the short-interest ratio is currently 0.4 days. Approximately 0.2% of the shares of the company are sold short. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 4,059 shares, the short-interest ratio is currently 0.4 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FMNY. Cetera Investment Advisers purchased a new stake in shares of First Trust New York Municipal High Income ETF during the 4th quarter worth approximately $380,000. Kestra Advisory Services LLC bought a new position in First Trust New York Municipal High Income ETF during the fourth quarter valued at $181,000. Commonwealth Equity Services LLC grew its holdings in First Trust New York Municipal High Income ETF by 38.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 19,891 shares of the company’s stock valued at $531,000 after purchasing an additional 5,515 shares during the period. LPL Financial LLC purchased a new stake in First Trust New York Municipal High Income ETF in the fourth quarter worth $265,000. Finally, Goldman Sachs Group Inc. purchased a new stake in First Trust New York Municipal High Income ETF in the fourth quarter worth $330,000.

First Trust New York Municipal High Income ETF Trading Up 0.4%

Shares of First Trust New York Municipal High Income ETF stock traded up $0.12 during trading hours on Thursday, hitting $27.19. 1,613 shares of the company’s stock traded hands, compared to its average volume of 6,711. First Trust New York Municipal High Income ETF has a 12-month low of $24.98 and a 12-month high of $27.19. The company has a fifty day simple moving average of $26.85 and a 200-day simple moving average of $26.63.

First Trust New York Municipal High Income ETF Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be issued a dividend of $0.084 per share. This represents a c) dividend on an annualized basis and a yield of 3.7%. This is a boost from First Trust New York Municipal High Income ETF’s previous monthly dividend of $0.08. The ex-dividend date is Friday, February 20th.

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.