First Trust Municipal High Income ETF (NASDAQ:FMHI) Sets New 52-Week Low – Should You Sell?

First Trust Municipal High Income ETF (NASDAQ:FMHI) hit a new 52-week low on Tuesday . The company traded as low as $46.49 and last traded at $47.00, with a volume of 493551 shares. The stock had previously closed at $48.26.

First Trust Municipal High Income ETF Stock Performance

The stock has a 50 day moving average price of $48.21 and a two-hundred day moving average price of $48.54.

First Trust Municipal High Income ETF Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 27th were given a dividend of $0.163 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date was Thursday, March 27th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in First Trust Municipal High Income ETF by 209.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 106,235 shares of the company’s stock worth $5,248,000 after purchasing an additional 71,872 shares during the last quarter. Stifel Financial Corp grew its stake in shares of First Trust Municipal High Income ETF by 244.8% in the 3rd quarter. Stifel Financial Corp now owns 21,154 shares of the company’s stock valued at $1,045,000 after buying an additional 15,019 shares during the period. Allworth Financial LP acquired a new stake in shares of First Trust Municipal High Income ETF in the 4th quarter valued at about $640,000. Truist Financial Corp grew its stake in shares of First Trust Municipal High Income ETF by 38.6% in the 4th quarter. Truist Financial Corp now owns 26,239 shares of the company’s stock valued at $1,267,000 after buying an additional 7,308 shares during the period. Finally, Sanctuary Advisors LLC boosted its stake in First Trust Municipal High Income ETF by 2.8% during the 4th quarter. Sanctuary Advisors LLC now owns 10,995 shares of the company’s stock valued at $532,000 after purchasing an additional 303 shares during the last quarter.

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.