First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Sees Large Growth in Short Interest

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 7,748 shares, a growth of 115.8% from the April 15th total of 3,590 shares. Based on an average daily trading volume, of 9,194 shares, the short-interest ratio is presently 0.8 days. Approximately 0.6% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FMNY. Kestra Advisory Services LLC purchased a new position in shares of First Trust New York Municipal High Income ETF in the fourth quarter valued at $181,000. Patriot Financial Group Insurance Agency LLC purchased a new position in First Trust New York Municipal High Income ETF in the first quarter valued at about $204,000. LPL Financial LLC purchased a new position in First Trust New York Municipal High Income ETF in the fourth quarter valued at about $265,000. Goldman Sachs Group Inc. purchased a new position in First Trust New York Municipal High Income ETF in the fourth quarter valued at about $330,000. Finally, Cetera Investment Advisers purchased a new position in First Trust New York Municipal High Income ETF in the fourth quarter valued at about $380,000.

First Trust New York Municipal High Income ETF Price Performance

Shares of NYSEARCA FMNY traded down $0.12 on Friday, hitting $26.56. The company had a trading volume of 14,156 shares, compared to its average volume of 9,731. The business has a 50 day moving average of $26.69 and a two-hundred day moving average of $26.78. First Trust New York Municipal High Income ETF has a 12-month low of $25.53 and a 12-month high of $27.22.

First Trust New York Municipal High Income ETF Company Profile

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.