First Trust Municipal High Income ETF (NASDAQ:FMHI) Stock Short Interest Jumps 609.8%

First Trust Municipal High Income ETF (NASDAQ:FMHI) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totaling 251,367 shares, a growth of 609.8% from the September 15th total of 35,413 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average daily volume of 265,473 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Investors Weigh In On First Trust Municipal High Income ETF

Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in shares of First Trust Municipal High Income ETF by 23.7% during the 1st quarter. Bank of America Corp DE now owns 798,920 shares of the company’s stock valued at $37,981,000 after purchasing an additional 153,170 shares during the last quarter. Meeder Advisory Services Inc. boosted its stake in First Trust Municipal High Income ETF by 11.0% in the first quarter. Meeder Advisory Services Inc. now owns 542,231 shares of the company’s stock worth $25,778,000 after buying an additional 53,886 shares in the last quarter. Cetera Investment Advisers grew its position in First Trust Municipal High Income ETF by 29.2% during the first quarter. Cetera Investment Advisers now owns 359,142 shares of the company’s stock valued at $17,074,000 after acquiring an additional 81,197 shares during the last quarter. NewEdge Advisors LLC grew its position in First Trust Municipal High Income ETF by 10.2% during the second quarter. NewEdge Advisors LLC now owns 296,778 shares of the company’s stock valued at $14,391,000 after acquiring an additional 27,555 shares during the last quarter. Finally, Ashton Thomas Securities LLC raised its stake in shares of First Trust Municipal High Income ETF by 6.9% during the first quarter. Ashton Thomas Securities LLC now owns 146,300 shares of the company’s stock worth $6,955,000 after acquiring an additional 9,422 shares in the last quarter.

First Trust Municipal High Income ETF Price Performance

FMHI stock opened at $44.77 on Friday. First Trust Municipal High Income ETF has a one year low of $44.34 and a one year high of $48.73. The firm has a 50 day simple moving average of $46.55 and a two-hundred day simple moving average of $47.55.

First Trust Municipal High Income ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were given a $0.1790 dividend. This represents a $2.15 annualized dividend and a yield of 4.8%. This is a boost from First Trust Municipal High Income ETF’s previous monthly dividend of $0.1780. The ex-dividend date was 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.