Short Interest in First Trust Municipal High Income ETF (NASDAQ:FMHI) Expands By 27.4%

First Trust Municipal High Income ETF (NASDAQ:FMHI) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 55,800 shares, a growth of 27.4% from the October 15th total of 43,800 shares. Based on an average trading volume of 77,800 shares, the days-to-cover ratio is presently 0.7 days.

First Trust Municipal High Income ETF Stock Performance

Shares of FMHI opened at $48.74 on Friday. The company’s fifty day moving average is $49.05 and its 200 day moving average is $48.69. First Trust Municipal High Income ETF has a fifty-two week low of $45.50 and a fifty-two week high of $49.51.

First Trust Municipal High Income ETF Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 22nd were issued a $0.163 dividend. The ex-dividend date was Tuesday, October 22nd. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.01%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FMHI. Envestnet Portfolio Solutions Inc. raised its position in First Trust Municipal High Income ETF by 11.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 10,353 shares of the company’s stock valued at $500,000 after purchasing an additional 1,024 shares during the period. Summit Wealth Partners LLC increased its position in shares of First Trust Municipal High Income ETF by 5.5% during the 2nd quarter. Summit Wealth Partners LLC now owns 11,848 shares of the company’s stock valued at $572,000 after purchasing an additional 620 shares during the last quarter. RFG Advisory LLC raised its holdings in First Trust Municipal High Income ETF by 55.7% during the 2nd quarter. RFG Advisory LLC now owns 29,089 shares of the company’s stock valued at $1,406,000 after buying an additional 10,404 shares during the period. Financial Partners Group Inc lifted its position in First Trust Municipal High Income ETF by 10.4% in the second quarter. Financial Partners Group Inc now owns 219,361 shares of the company’s stock worth $10,600,000 after buying an additional 20,649 shares during the last quarter. Finally, Ameritas Advisory Services LLC boosted its stake in First Trust Municipal High Income ETF by 6.7% during the second quarter. Ameritas Advisory Services LLC now owns 7,615 shares of the company’s stock worth $368,000 after buying an additional 480 shares during the period.

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.