First Trust New York Municipal High Income ETF

First Trust New York Municipal High Income Fund is a closed-end management investment company. Its primary function is to invest in municipal securities, focusing on those that provide high current income exempt from regular federal, New York state, and New York City income taxes. The fund seeks to balance income with modest capital appreciation potential. By concentrating its investments in New York, it directly impacts and benefits infrastructure projects and public services, including schools, hospitals, and transportation within the state. This fund plays a significant role in the municipal bond market by offering investors a means of gaining exposure to tax-exempt income while supporting local community initiatives. It is managed by professionals who actively select and manage a diversified portfolio of municipal securities, assessing credit quality, yield, and potential risk factors. As a specialized investment vehicle, the First Trust New York Municipal High Income Fund is particularly significant for residents of New York seeking tax-efficient income solutions.