First Trust Municipal High Income ETF (NASDAQ:FMHI) Short Interest Up 61.6% in October

First Trust Municipal High Income ETF (NASDAQ:FMHI) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 43,800 shares, an increase of 61.6% from the September 30th total of 27,100 shares. Based on an average daily trading volume, of 78,000 shares, the days-to-cover ratio is currently 0.6 days.

First Trust Municipal High Income ETF Stock Performance

FMHI opened at $48.66 on Friday. The business has a fifty day moving average of $49.15 and a 200 day moving average of $48.58. First Trust Municipal High Income ETF has a 52-week low of $43.90 and a 52-week 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 Thursday, October 31st. Stockholders of record on Tuesday, October 22nd will be paid a dividend of $0.163 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Tuesday, October 22nd.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Rothschild Investment LLC purchased a new stake in First Trust Municipal High Income ETF in the 2nd quarter valued at about $30,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of First Trust Municipal High Income ETF in the third quarter valued at approximately $109,000. Westside Investment Management Inc. grew its stake in First Trust Municipal High Income ETF by 66.7% in the first quarter. Westside Investment Management Inc. now owns 2,500 shares of the company’s stock worth $120,000 after purchasing an additional 1,000 shares in the last quarter. International Assets Investment Management LLC purchased a new position in First Trust Municipal High Income ETF during the 2nd quarter worth $184,000. Finally, Elevated Capital Advisors LLC bought a new stake in First Trust Municipal High Income ETF during the 2nd quarter valued at $211,000.

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.