First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Significant Drop in Short Interest

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

Hedge Funds Weigh In On First Trust Municipal High Income ETF

Several hedge funds and other institutional investors have recently modified their holdings of FMHI. Creative Financial Designs Inc. ADV boosted its stake in First Trust Municipal High Income ETF by 187.4% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 868 shares of the company’s stock valued at $42,000 after purchasing an additional 566 shares during the period. Coppell Advisory Solutions LLC grew its holdings in First Trust Municipal High Income ETF by 180.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,293 shares of the company’s stock worth $62,000 after buying an additional 832 shares in the last quarter. Duncker Streett & Co. Inc. acquired a new stake in First Trust Municipal High Income ETF in the 4th quarter valued at approximately $67,000. Larson Financial Group LLC bought a new stake in First Trust Municipal High Income ETF during the 3rd quarter valued at $92,000. Finally, Synergy Investment Management LLC acquired a new position in First Trust Municipal High Income ETF during the 4th quarter worth $124,000.

First Trust Municipal High Income ETF Price Performance

FMHI traded up $0.03 on Monday, hitting $47.82. 55,714 shares of the company’s stock were exchanged, compared to its average volume of 75,378. The stock has a fifty day moving average of $48.42 and a two-hundred day moving average of $48.67. First Trust Municipal High Income ETF has a twelve month low of $47.33 and a twelve month high of $49.51.

First Trust Municipal High Income ETF Announces Dividend

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

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.