First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Unusually-High Trading Volume – Time to Buy?

Shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) saw strong trading volume on Monday. 238,780 shares traded hands during trading, an increase of 67% from the previous session’s volume of 143,312 shares. The stock last traded at $44.6360 and had previously closed at $44.77.

First Trust Municipal High Income ETF Price Performance

The firm’s fifty day moving average price is $46.55 and its 200 day moving average price is $47.54.

First Trust Municipal High Income ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were paid a dividend of $0.1790 per share. The ex-dividend date of this dividend was Thursday, September 24th. This is a positive change from First Trust Municipal High Income ETF’s previous monthly dividend of $0.1780. This represents a $2.15 annualized dividend and a yield of 4.8%.

Institutional Trading of First Trust Municipal High Income ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE boosted its position in shares of First Trust Municipal High Income ETF by 23.7% during the 1st quarter. Bank of America Corp DE now owns 798,920 shares of the company’s stock valued at $37,981,000 after acquiring an additional 153,170 shares during the last quarter. Meeder Advisory Services Inc. increased its position in First Trust Municipal High Income ETF by 11.0% in the first quarter. Meeder Advisory Services Inc. now owns 542,231 shares of the company’s stock worth $25,778,000 after purchasing an additional 53,886 shares during the last quarter. Cetera Investment Advisers increased its position in First Trust Municipal High Income ETF by 29.2% in the first quarter. Cetera Investment Advisers now owns 359,142 shares of the company’s stock worth $17,074,000 after purchasing an additional 81,197 shares during the last quarter. NewEdge Advisors LLC increased its position in First Trust Municipal High Income ETF by 10.2% in the second quarter. NewEdge Advisors LLC now owns 296,778 shares of the company’s stock worth $14,391,000 after purchasing an additional 27,555 shares during the last quarter. Finally, Ashton Thomas Securities LLC increased its position in First Trust Municipal High Income ETF by 6.9% in the first quarter. Ashton Thomas Securities LLC now owns 146,300 shares of the company’s stock worth $6,955,000 after purchasing an additional 9,422 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.