Sowell Financial Services LLC Boosts Stock Position in First Trust Municipal High Income ETF $FMHI

Sowell Financial Services LLC lifted its position in First Trust Municipal High Income ETF (NASDAQ:FMHI) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,853 shares of the company’s stock after buying an additional 233 shares during the quarter. Sowell Financial Services LLC owned approximately 0.20% of First Trust Municipal High Income ETF worth $1,488,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FMHI. Wealth Enhancement Advisory Services LLC grew its stake in First Trust Municipal High Income ETF by 12.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,468,443 shares of the company’s stock worth $68,708,000 after purchasing an additional 165,191 shares in the last quarter. Financial Partners Group Inc grew its stake in First Trust Municipal High Income ETF by 2.6% during the 1st quarter. Financial Partners Group Inc now owns 251,112 shares of the company’s stock worth $12,004,000 after purchasing an additional 6,286 shares in the last quarter. NewEdge Advisors LLC grew its stake in First Trust Municipal High Income ETF by 13.0% during the 1st quarter. NewEdge Advisors LLC now owns 238,344 shares of the company’s stock worth $11,394,000 after purchasing an additional 27,389 shares in the last quarter. SlateStone Wealth LLC grew its stake in First Trust Municipal High Income ETF by 40.5% during the 1st quarter. SlateStone Wealth LLC now owns 233,078 shares of the company’s stock worth $11,142,000 after purchasing an additional 67,175 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in First Trust Municipal High Income ETF by 6.9% during the 1st quarter. Cetera Investment Advisers now owns 203,823 shares of the company’s stock worth $9,744,000 after purchasing an additional 13,093 shares in the last quarter.

First Trust Municipal High Income ETF Price Performance

FMHI opened at $47.69 on Tuesday. First Trust Municipal High Income ETF has a 12 month low of $44.80 and a 12 month high of $49.51. The business has a fifty day moving average price of $46.53 and a 200 day moving average price of $46.80.

First Trust Municipal High Income ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, August 29th. Investors of record on Thursday, August 21st were paid a dividend of $0.167 per share. This represents a c) annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Thursday, August 21st. This is a positive change from First Trust Municipal High Income ETF’s previous monthly dividend of $0.17.

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.