First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Significant Growth in Short Interest

First Trust Municipal High Income ETF (NASDAQ:FMHI) saw a significant growth in short interest in June. As of June 15th, there was short interest totaling 137,095 shares, a growth of 982.8% from the May 31st total of 12,661 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily volume of 94,908 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Investors Weigh In On First Trust Municipal High Income ETF

Several institutional investors and hedge funds have recently made changes to their positions in FMHI. Nations Financial Group Inc. IA ADV increased its position in shares of First Trust Municipal High Income ETF by 1.6% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 19,160 shares of the company’s stock worth $911,000 after purchasing an additional 300 shares in the last quarter. Altus Wealth Group LLC boosted its position in First Trust Municipal High Income ETF by 4.5% in the fourth quarter. Altus Wealth Group LLC now owns 7,484 shares of the company’s stock valued at $359,000 after buying an additional 320 shares in the last quarter. Orion Porfolio Solutions LLC grew its stake in First Trust Municipal High Income ETF by 4.7% during the second quarter. Orion Porfolio Solutions LLC now owns 8,184 shares of the company’s stock worth $382,000 after buying an additional 365 shares during the last quarter. Dynamic Advisor Solutions LLC grew its stake in First Trust Municipal High Income ETF by 5.5% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 8,073 shares of the company’s stock worth $387,000 after buying an additional 419 shares during the last quarter. Finally, GSG Advisors LLC increased its holdings in shares of First Trust Municipal High Income ETF by 1.6% during the first quarter. GSG Advisors LLC now owns 27,588 shares of the company’s stock worth $1,312,000 after buying an additional 425 shares in the last quarter.

First Trust Municipal High Income ETF Trading Up 0.1%

Shares of FMHI stock traded up $0.05 during trading hours on Friday, hitting $48.47. The company had a trading volume of 122,153 shares, compared to its average volume of 113,339. First Trust Municipal High Income ETF has a 12 month low of $45.83 and a 12 month high of $48.73. The firm’s fifty day moving average is $48.15 and its 200 day moving average is $48.08.

First Trust Municipal High Income ETF Increases Dividend

The business also recently declared a dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th will be given a $0.177 dividend. This is a positive change from First Trust Municipal High Income ETF’s previous dividend of $0.18. The ex-dividend date is Thursday, June 25th.

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.