Cwm LLC Buys 23,422 Shares of First Trust Municipal High Income ETF (NASDAQ:FMHI)

Cwm LLC increased its holdings in shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) by 42.8% during the first quarter, Holdings Channel.com reports. The firm owned 78,168 shares of the company’s stock after buying an additional 23,422 shares during the period. Cwm LLC’s holdings in First Trust Municipal High Income ETF were worth $3,737,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of First Trust Municipal High Income ETF by 13.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,303,252 shares of the company’s stock worth $62,302,000 after purchasing an additional 151,935 shares during the last quarter. LPL Financial LLC boosted its position in First Trust Municipal High Income ETF by 10.1% during the fourth quarter. LPL Financial LLC now owns 984,276 shares of the company’s stock worth $47,531,000 after acquiring an additional 90,504 shares during the last quarter. Wells Fargo & Company MN raised its stake in First Trust Municipal High Income ETF by 6.1% during the fourth quarter. Wells Fargo & Company MN now owns 700,256 shares of the company’s stock worth $33,815,000 after purchasing an additional 40,466 shares during the period. Bank of America Corp DE raised its stake in shares of First Trust Municipal High Income ETF by 9.6% in the 4th quarter. Bank of America Corp DE now owns 671,953 shares of the company’s stock valued at $32,449,000 after acquiring an additional 58,620 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of First Trust Municipal High Income ETF in the 4th quarter valued at approximately $17,256,000.

First Trust Municipal High Income ETF Stock Down 0.3%

Shares of FMHI opened at $46.19 on Friday. First Trust Municipal High Income ETF has a fifty-two week low of $44.80 and a fifty-two week high of $49.51. The firm’s 50 day moving average price is $46.64 and its 200 day moving average price is $47.43.

First Trust Municipal High Income ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 26th were issued a $0.166 dividend. This represents a $1.99 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend was Thursday, June 26th. This is an increase from First Trust Municipal High Income ETF’s previous monthly dividend of $0.17.

First Trust Municipal High Income ETF 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.