Short Interest in First Trust Municipal High Income ETF (NASDAQ:FMHI) Rises By 739.1%

First Trust Municipal High Income ETF (NASDAQ:FMHI) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 38,600 shares, a growth of 739.1% from the July 15th total of 4,600 shares. Based on an average trading volume of 56,100 shares, the days-to-cover ratio is presently 0.7 days.

First Trust Municipal High Income ETF Stock Up 0.2 %

First Trust Municipal High Income ETF stock opened at $49.00 on Tuesday. The company has a 50 day moving average price of $48.61 and a 200 day moving average price of $48.13. First Trust Municipal High Income ETF has a 52 week low of $43.88 and a 52 week high of $49.47.

First Trust Municipal High Income ETF Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Wednesday, July 31st. Investors of record on Tuesday, July 23rd were given a dividend of $0.163 per share. This represents a $1.96 annualized dividend and a yield of 3.99%. The ex-dividend date was Tuesday, July 23rd.

Institutional Trading of First Trust Municipal High Income ETF

A number of hedge funds have recently made changes to their positions in FMHI. Wells Fargo & Company MN grew its stake in First Trust Municipal High Income ETF by 145.2% in the fourth quarter. Wells Fargo & Company MN now owns 406,752 shares of the company’s stock valued at $19,394,000 after purchasing an additional 240,894 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of First Trust Municipal High Income ETF in the 4th quarter valued at approximately $8,659,000. Principle Wealth Partners LLC acquired a new position in First Trust Municipal High Income ETF in the fourth quarter worth approximately $8,072,000. Cetera Investment Advisers raised its position in First Trust Municipal High Income ETF by 585.7% during the first quarter. Cetera Investment Advisers now owns 145,955 shares of the company’s stock valued at $7,032,000 after acquiring an additional 124,671 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of First Trust Municipal High Income ETF by 881.4% during the 1st quarter. Jane Street Group LLC now owns 107,345 shares of the company’s stock valued at $5,172,000 after purchasing an additional 96,407 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.