First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Unusually-High Trading Volume After Dividend Announcement

Shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) saw unusually-strong trading volume on Friday after the company announced a dividend. Approximately 230,695 shares changed hands during mid-day trading, an increase of 109% from the previous session’s volume of 110,462 shares.The stock last traded at $47.38 and had previously closed at $47.59.

The newly announced dividend which will be paid on Monday, August 31st. Shareholders of record on Friday, August 21st will be paid a $0.178 dividend. The ex-dividend date is Friday, August 21st. This is a positive change from First Trust Municipal High Income ETF’s previous dividend of $0.18.

First Trust Municipal High Income ETF Price Performance

The company has a 50 day simple moving average of $48.09 and a 200 day simple moving average of $48.09.

Institutional Trading of First Trust Municipal High Income ETF

A number of institutional investors have recently made changes to their positions in FMHI. Dynamic Advisor Solutions LLC grew its position in First Trust Municipal High Income ETF by 3.1% in the second quarter. Dynamic Advisor Solutions LLC now owns 8,335 shares of the company’s stock valued at $404,000 after purchasing an additional 252 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its position in First Trust Municipal High Income ETF by 1.6% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 19,160 shares of the company’s stock worth $911,000 after buying an additional 300 shares in the last quarter. Altus Wealth Group LLC lifted its position in First Trust Municipal High Income ETF by 4.5% during the 4th quarter. Altus Wealth Group LLC now owns 7,484 shares of the company’s stock worth $359,000 after buying an additional 320 shares in the last quarter. Orion Porfolio Solutions LLC boosted its stake in shares of First Trust Municipal High Income ETF by 4.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 8,184 shares of the company’s stock worth $382,000 after buying an additional 365 shares during the last quarter. Finally, GSG Advisors LLC boosted its stake in shares of First Trust Municipal High Income ETF by 1.6% during the 1st quarter. GSG Advisors LLC now owns 27,588 shares of the company’s stock worth $1,312,000 after buying an additional 425 shares during the last quarter.

First Trust Municipal High Income ETF Company 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.