First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Shares Shorted: Short Interest Up 569.1% in October

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) saw a significant increase in short interest in the month of October. As of October 30th, there was short interest totaling 13,811 shares, an increase of 569.1% from the October 15th total of 2,064 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily volume of 10,506 shares, the days-to-cover ratio is presently 1.3 days.

First Trust New York Municipal High Income ETF Trading Down 0.5%

NYSEARCA:FMNY opened at $25.83 on Friday. First Trust New York Municipal High Income ETF has a fifty-two week low of $24.49 and a fifty-two week high of $27.22. The business’s 50-day simple moving average is $25.37 and its 200-day simple moving average is $26.35.

Institutional Trading of First Trust New York Municipal High Income ETF

Several hedge funds have recently bought and sold shares of the stock. Magnus Financial Group LLC lifted its stake in First Trust New York Municipal High Income ETF by 12.9% in the third quarter. Magnus Financial Group LLC now owns 472,922 shares of the company’s stock valued at $11,771,000 after buying an additional 54,053 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of First Trust New York Municipal High Income ETF by 11.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 200,577 shares of the company’s stock worth $5,396,000 after acquiring an additional 20,918 shares in the last quarter. Flynn Zito Capital Management LLC bought a new stake in shares of First Trust New York Municipal High Income ETF during the first quarter worth $4,036,000. Cetera Investment Advisers increased its position in shares of First Trust New York Municipal High Income ETF by 94.4% during the first quarter. Cetera Investment Advisers now owns 27,693 shares of the company’s stock worth $732,000 after acquiring an additional 13,451 shares in the last quarter. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of First Trust New York Municipal High Income ETF during the third quarter worth $304,000.

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.