First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Short Interest Down 50.6% in August

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) was the target of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 18,418 shares, a drop of 50.6% from the July 30th total of 37,281 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average trading volume of 8,535 shares, the short-interest ratio is currently 2.2 days.

First Trust New York Municipal High Income ETF Price Performance

Shares of FMNY stock traded down $0.11 during mid-day trading on Monday, reaching $25.97. The stock had a trading volume of 3,052 shares, compared to its average volume of 8,026. The stock’s 50-day moving average price is $26.54 and its two-hundred day moving average price is $26.68. First Trust New York Municipal High Income ETF has a 52-week low of $25.78 and a 52-week high of $27.22.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FMNY. Flynn Zito Capital Management LLC purchased a new position in shares of First Trust New York Municipal High Income ETF during the first quarter valued at approximately $4,036,000. Flow Traders U.S. LLC purchased a new stake in First Trust New York Municipal High Income ETF in the third quarter worth $1,420,000. Jane Street Group LLC boosted its holdings in First Trust New York Municipal High Income ETF by 236.5% in the second quarter. Jane Street Group LLC now owns 49,379 shares of the company’s stock valued at $1,282,000 after acquiring an additional 34,704 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in First Trust New York Municipal High Income ETF by 11.6% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 200,577 shares of the company’s stock valued at $5,396,000 after acquiring an additional 20,918 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new position in First Trust New York Municipal High Income ETF during the 4th quarter valued at $380,000.

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.