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

First Trust Municipal High Income ETF (NASDAQ:FMHI) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 58,997 shares, a drop of 76.5% from the September 30th total of 251,367 shares. Based on an average daily volume of 546,941 shares, the short-interest ratio is presently 0.1 days. Currently, 0.3% of the company’s stock are short sold.

First Trust Municipal High Income ETF Stock Performance

FMHI traded up $0.12 during trading hours on Friday, hitting $46.19. 58,803 shares of the company’s stock were exchanged, compared to its average volume of 163,768. First Trust Municipal High Income ETF has a 1-year low of $44.34 and a 1-year high of $48.73. The stock’s 50-day moving average is $45.95 and its two-hundred day moving average is $47.55.

First Trust Municipal High Income ETF Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 21st will be given a dividend of $0.1790 per share. The ex-dividend date of this dividend is Wednesday, October 21st. This represents a $2.15 annualized dividend and a yield of 4.7%.

Hedge Funds Weigh In On First Trust Municipal High Income ETF

A number of large investors have recently modified their holdings of the business. Dynamic Advisor Solutions LLC lifted its stake in First Trust Municipal High Income ETF by 3.1% in the second quarter. Dynamic Advisor Solutions LLC now owns 8,335 shares of the company’s stock valued at $404,000 after acquiring an additional 252 shares during the last quarter. GSG Advisors LLC grew its position in shares of First Trust Municipal High Income ETF by 1.6% in the 1st quarter. GSG Advisors LLC now owns 27,588 shares of the company’s stock valued at $1,312,000 after acquiring an additional 425 shares during the period. Hedeker Wealth LLC increased its stake in shares of First Trust Municipal High Income ETF by 5.6% during the 2nd quarter. Hedeker Wealth LLC now owns 10,518 shares of the company’s stock worth $510,000 after purchasing an additional 558 shares during the last quarter. CoreCap Advisors LLC increased its stake in shares of First Trust Municipal High Income ETF by 12.2% during the 2nd quarter. CoreCap Advisors LLC now owns 6,687 shares of the company’s stock worth $324,000 after purchasing an additional 728 shares during the last quarter. Finally, Flagstar Advisors Inc. grew its holdings in First Trust Municipal High Income ETF by 15.5% during the first quarter. Flagstar Advisors Inc. now owns 5,561 shares of the company’s stock worth $264,000 after purchasing an additional 747 shares during the period.

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.