Short Interest in First Trust Municipal High Income ETF (NASDAQ:FMHI) Declines By 38.6%

First Trust Municipal High Income ETF (NASDAQ:FMHI) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 8,900 shares, a decline of 38.6% from the February 28th total of 14,500 shares. Based on an average daily trading volume, of 84,600 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the shares of the stock are sold short.

First Trust Municipal High Income ETF Stock Performance

NASDAQ:FMHI traded up $0.32 during trading hours on Friday, reaching $47.79. The company had a trading volume of 76,534 shares, compared to its average volume of 75,451. The stock has a 50-day moving average of $48.42 and a two-hundred day moving average of $48.68. First Trust Municipal High Income ETF has a one year low of $47.33 and a one year high of $49.51.

First Trust Municipal High Income ETF Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 27th will be issued a $0.163 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.09%. The ex-dividend date is Thursday, March 27th.

Hedge Funds Weigh In On First Trust Municipal High Income ETF

Several institutional investors have recently added to or reduced their stakes in FMHI. Larson Financial Group LLC bought a new stake in First Trust Municipal High Income ETF during the third quarter worth about $92,000. D.A. Davidson & CO. boosted its holdings in shares of First Trust Municipal High Income ETF by 22.3% in the 3rd quarter. D.A. Davidson & CO. now owns 43,583 shares of the company’s stock worth $2,153,000 after acquiring an additional 7,933 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of First Trust Municipal High Income ETF by 8.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 17,341 shares of the company’s stock worth $855,000 after acquiring an additional 1,416 shares in the last quarter. Benjamin Edwards Inc. grew its position in First Trust Municipal High Income ETF by 293.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 7,531 shares of the company’s stock worth $372,000 after acquiring an additional 5,616 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in 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 valued at $8,513,000 after purchasing an additional 112,110 shares in the last quarter.

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.