First Trust Municipal High Income ETF (NASDAQ:FMHI) Short Interest Update

First Trust Municipal High Income ETF (NASDAQ:FMHI) was the target of a large drop in short interest in the month of February. As of February 15th, there was short interest totalling 31,900 shares, a drop of 54.0% from the January 31st total of 69,300 shares. Based on an average daily trading volume, of 88,100 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On First Trust Municipal High Income ETF

Several hedge funds and other institutional investors have recently made changes to their positions in FMHI. Raymond James Financial Inc. acquired a new stake in shares of First Trust Municipal High Income ETF during the 4th quarter worth about $17,256,000. HighTower Advisors LLC raised its position in shares of First Trust Municipal High Income ETF by 186.1% during the 3rd quarter. HighTower Advisors LLC now owns 172,366 shares of the company’s stock worth $8,513,000 after acquiring an additional 112,110 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in shares of First Trust Municipal High Income ETF during the 4th quarter worth about $4,685,000. LPL Financial LLC raised its position in shares of First Trust Municipal High Income ETF by 10.1% during the 4th quarter. LPL Financial LLC now owns 984,276 shares of the company’s stock worth $47,531,000 after acquiring an additional 90,504 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in First Trust Municipal High Income ETF by 209.2% during the third quarter. JPMorgan Chase & Co. now owns 106,235 shares of the company’s stock worth $5,248,000 after buying an additional 71,872 shares during the period.

First Trust Municipal High Income ETF Price Performance

Shares of NASDAQ FMHI traded down $0.04 during midday trading on Friday, hitting $48.80. 182,816 shares of the company’s stock were exchanged, compared to its average volume of 89,367. First Trust Municipal High Income ETF has a twelve month low of $47.33 and a twelve month high of $49.51. The firm’s fifty day simple moving average is $48.37 and its 200-day simple moving average is $48.78.

First Trust Municipal High Income ETF Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were given a dividend of $0.163 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Friday, February 21st.

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.