First Trust Municipal High Income ETF (NASDAQ:FMHI) Reaches New 12-Month Low – Here’s What Happened

Shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $46.03 and last traded at $46.1150, with a volume of 56140 shares changing hands. The stock had previously closed at $46.09.

First Trust Municipal High Income ETF Trading Up 0.1%

The company’s 50-day simple moving average is $47.54 and its 200 day simple moving average is $47.91.

First Trust Municipal High Income ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were paid a $0.178 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, August 21st. This is a positive change from First Trust Municipal High Income ETF’s previous monthly dividend of $0.18.

Hedge Funds Weigh In On First Trust Municipal High Income ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Glen Eagle Advisors LLC bought a new position in shares of First Trust Municipal High Income ETF in the first quarter valued at approximately $91,000. Parallel Advisors LLC acquired a new position in First Trust Municipal High Income ETF in the 1st quarter valued at $161,000. Western Wealth Management LLC bought a new position in First Trust Municipal High Income ETF in the 1st quarter worth $162,000. Triumph Capital Management raised its holdings in First Trust Municipal High Income ETF by 152.1% in the 2nd quarter. Triumph Capital Management now owns 4,475 shares of the company’s stock worth $217,000 after acquiring an additional 2,700 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in First Trust Municipal High Income ETF during the 2nd quarter worth $235,000.

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.