First Trust Municipal High Income ETF (NASDAQ:FMHI) Stock Short Interest Climbs 430.3%

First Trust Municipal High Income ETF (NASDAQ:FMHI) was the recipient of a significant growth in short interest during the month of October. As of October 30th, there was short interest totaling 312,838 shares, a growth of 430.3% from the October 15th total of 58,997 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average trading volume of 432,892 shares, the short-interest ratio is presently 0.7 days.

First Trust Municipal High Income ETF Trading Down 0.5%

Shares of NASDAQ:FMHI traded down $0.24 during trading on Friday, reaching $46.09. 155,261 shares of the stock were exchanged, compared to its average volume of 168,245. First Trust Municipal High Income ETF has a 12 month low of $44.34 and a 12 month high of $48.73. The stock has a 50-day moving average price of $45.79 and a 200-day moving average price of $47.48.

First Trust Municipal High Income ETF Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, October 21st were issued a $0.1790 dividend. This represents a $2.15 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Wednesday, October 21st.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Glen Eagle Advisors LLC bought a new stake in shares of First Trust Municipal High Income ETF in the first quarter valued at about $91,000. Parallel Advisors LLC acquired a new position in shares of First Trust Municipal High Income ETF in the first quarter valued at about $161,000. Western Wealth Management LLC bought a new position in First Trust Municipal High Income ETF during the first quarter worth about $162,000. Triumph Capital Management increased its position in First Trust Municipal High Income ETF by 152.1% during the second quarter. Triumph Capital Management now owns 4,475 shares of the company’s stock worth $217,000 after acquiring an additional 2,700 shares during the period. Finally, Benjamin Edwards Inc. bought a new position in First Trust Municipal High Income ETF during the third quarter worth about $202,000.

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.