First Trust Municipal High Income ETF (NASDAQ:FMHI) Shares Shorted: Short Interest Down 55.6% in September

First Trust Municipal High Income ETF (NASDAQ:FMHI) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totaling 35,413 shares, a decrease of 55.6% from the August 31st total of 79,811 shares. Based on an average daily volume of 131,273 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.2% of the company’s stock are short sold.

Hedge Funds Weigh In On First Trust Municipal High Income ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FMHI. Glen Eagle Advisors LLC bought a new stake in shares of First Trust Municipal High Income ETF in the 1st quarter worth $91,000. Parallel Advisors LLC bought a new position in shares of First Trust Municipal High Income ETF during the first quarter valued at $161,000. Western Wealth Management LLC bought a new position in shares of First Trust Municipal High Income ETF during the first quarter valued at $162,000. Triumph Capital Management boosted its position in shares of First Trust Municipal High Income ETF by 152.1% during the second quarter. Triumph Capital Management now owns 4,475 shares of the company’s stock valued at $217,000 after buying an additional 2,700 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of First Trust Municipal High Income ETF during the second quarter valued at $235,000.

First Trust Municipal High Income ETF Stock Down 0.4%

NASDAQ:FMHI traded down $0.19 on Tuesday, reaching $44.48. 483,831 shares of the stock traded hands, compared to its average volume of 125,046. First Trust Municipal High Income ETF has a 12 month low of $44.34 and a 12 month high of $48.73. The company’s fifty day simple moving average is $47.08 and its 200 day simple moving average is $47.75.

First Trust Municipal High Income ETF Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 24th will be given a dividend of $0.1790 per share. This represents a $2.15 annualized dividend and a dividend yield of 4.8%. This is an increase from First Trust Municipal High Income ETF’s previous monthly dividend of $0.1780. The ex-dividend date of this dividend is Thursday, September 24th.

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.