First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) Short Interest Update

First Trust New York Municipal High Income ETF (NYSEARCA:FMNY) was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totaling 29,905 shares, an increase of 286.0% from the April 30th total of 7,748 shares. Based on an average daily volume of 10,342 shares, the days-to-cover ratio is currently 2.9 days. Approximately 2.1% of the shares of the company are sold short.

Institutional Trading of First Trust New York Municipal High Income ETF

Institutional investors and hedge funds have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. increased its holdings in First Trust New York Municipal High Income ETF by 44.6% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 155,121 shares of the company’s stock valued at $4,141,000 after buying an additional 47,844 shares during the period. Emergent Wealth Advisors LLC bought a new position in shares of First Trust New York Municipal High Income ETF during the 4th quarter worth about $407,000. Magnus Financial Group LLC lifted its holdings in shares of First Trust New York Municipal High Income ETF by 2.9% during the 4th quarter. Magnus Financial Group LLC now owns 329,205 shares of the company’s stock worth $8,788,000 after acquiring an additional 9,156 shares during the period. Cetera Investment Advisers acquired a new stake in shares of First Trust New York Municipal High Income ETF during the 4th quarter valued at about $380,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of First Trust New York Municipal High Income ETF during the 4th quarter valued at about $181,000.

First Trust New York Municipal High Income ETF Trading Up 0.3%

Shares of NYSEARCA:FMNY traded up $0.08 during midday trading on Friday, hitting $26.74. The company’s stock had a trading volume of 1,071 shares, compared to its average volume of 9,516. The stock’s 50 day simple moving average is $26.64 and its 200 day simple moving average is $26.76. First Trust New York Municipal High Income ETF has a fifty-two week low of $25.53 and a fifty-two week high of $27.22.

About First Trust New York Municipal High Income ETF

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.