First Trust New York Municipal High Income ETF (FMNY)
ARCA ARCA Primary Summary
FMNY Chart
First Trust New York Municipal High Income ETF Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| RZ Richard Zito Flynn Zito Capital Management LLC | 152,704 | $4.04M | $4.09M | $54,973.44 | 1.36% |
| PF Phillip Fitzsimmons Hennion & Walsh Asset Management Inc. | 179,659 | $4.81M | $4.81M | $5,410.81 | 0.11% |
First Trust New York Municipal High Income ETF (FMNY) FAQ
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First Trust New York Municipal High Income ETF Profile
| ARCA Exchange | US Country |
Overview
The fund is designed to cater to investors looking for income that is exempt from federal, New York State, and New York City income taxes. It primarily invests in municipal debt securities, emphasizing those that provide tax-exempt income. With a strategic focus on investing a minimum of 80% of its net assets in such tax-advantaged securities, the fund offers an appealing solution for investors seeking tax-efficient income streams. Moreover, the flexibility to invest in municipal securities across various durations and maturities, with an effective duration target of 3-9 years, enables the fund to adjust to changing market conditions. The choice to maintain a non-diversified status further underscores its focused investment approach.
Products and Services
- Municipal Debt Securities Investment
The core service provided by the fund is the investment in municipal debt securities that generate income exempt from regular federal, New York State, and New York City income taxes. This includes a wide range of debt instruments issued by municipalities, allowing for income that is beneficial for investors looking to maximize after-tax returns.
- Flexibility in Investment Duration and Maturity
Despite its primary focus on tax-exempt municipal debt securities, the fund offers flexibility in terms of the duration and maturity of the securities it invests in. This flexibility allows the fund to navigate various interest rate environments and adapt its investment strategy as market conditions change. The expected effective duration of 3-9 years offers a balanced approach between short-term responsiveness and long-term commitment.
