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

First Trust Municipal High Income ETF (NASDAQ:FMHI) shares saw unusually-strong trading volume on Wednesday following a dividend announcement from the company. 355,999 shares were traded during mid-day trading, an increase of 132% from the previous session’s volume of 153,650 shares. The stock last traded at $45.2970 and had previously closed at $45.47.

The newly announced dividend which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 21st will be issued a dividend of $0.1790 per share. The ex-dividend date of this dividend is Wednesday, October 21st. This represents a $2.15 dividend on an annualized basis and a yield of 4.7%.

First Trust Municipal High Income ETF Price Performance

The business has a 50 day moving average price of $46.20 and a two-hundred day moving average price of $47.43.

Institutional Investors Weigh In On First Trust Municipal High Income ETF

A number of hedge funds have recently bought and sold shares of the business. Sowell Financial Services LLC boosted its stake in First Trust Municipal High Income ETF by 4.9% during the third quarter. Sowell Financial Services LLC now owns 18,806 shares of the company’s stock worth $843,000 after buying an additional 883 shares during the period. Boyd Wealth Management LLC lifted its holdings in First Trust Municipal High Income ETF by 5.3% during the 3rd quarter. Boyd Wealth Management LLC now owns 19,450 shares of the company’s stock valued at $872,000 after buying an additional 977 shares in the last quarter. Retirement Planning Group LLC bought a new stake in shares of First Trust Municipal High Income ETF during the third quarter valued at approximately $847,000. Cyndeo Wealth Partners LLC increased its stake in shares of First Trust Municipal High Income ETF by 2.2% during the third quarter. Cyndeo Wealth Partners LLC now owns 94,056 shares of the company’s stock valued at $4,218,000 after buying an additional 2,056 shares during the period. Finally, Triumph Capital Management raised its stake in First Trust Municipal High Income ETF by 55.4% in the third quarter. Triumph Capital Management now owns 6,955 shares of the company’s stock worth $312,000 after buying an additional 2,480 shares in 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.