First Trust Municipal High Income ETF (NASDAQ:FMHI) Hits New 12-Month Low – What’s Next?

First Trust Municipal High Income ETF (NASDAQ:FMHI)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $46.00 and last traded at $45.99, with a volume of 22189 shares changing hands. The stock had previously closed at $46.20.

First Trust Municipal High Income ETF Stock Performance

The stock has a 50 day moving average of $47.32 and a 200 day moving average of $47.83.

First Trust Municipal High Income ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were issued a $0.178 dividend. This is a boost from First Trust Municipal High Income ETF’s previous monthly dividend of $0.18. The ex-dividend date of this dividend was Friday, August 21st. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%.

Institutional Trading of First Trust Municipal High Income ETF

Hedge funds have recently bought and sold shares of the company. Dynamic Advisor Solutions LLC boosted its position in First Trust Municipal High Income ETF by 3.1% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 8,335 shares of the company’s stock worth $404,000 after acquiring an additional 252 shares during the period. Nations Financial Group Inc. IA ADV increased its holdings in shares of First Trust Municipal High Income ETF by 1.6% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 19,160 shares of the company’s stock valued at $911,000 after purchasing an additional 300 shares during the period. GSG Advisors LLC lifted its position in shares of First Trust Municipal High Income ETF by 1.6% in the first quarter. GSG Advisors LLC now owns 27,588 shares of the company’s stock worth $1,312,000 after purchasing an additional 425 shares in the last quarter. Hedeker Wealth LLC lifted its position in shares of First Trust Municipal High Income ETF by 5.6% in the second quarter. Hedeker Wealth LLC now owns 10,518 shares of the company’s stock worth $510,000 after purchasing an additional 558 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of First Trust Municipal High Income ETF by 6.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 9,767 shares of the company’s stock worth $468,000 after purchasing an additional 625 shares in 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.