First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Unusually-High Trading Volume – Here’s What Happened

First Trust Municipal High Income ETF (NASDAQ:FMHI) saw strong trading volume on Tuesday. 443,955 shares changed hands during mid-day trading, an increase of 235% from the previous session’s volume of 132,692 shares. The stock last traded at $44.8170 and had previously closed at $44.90.

First Trust Municipal High Income ETF Stock Down 0.2%

The business’s 50 day simple moving average is $46.79 and its 200 day simple moving average is $47.63.

First Trust Municipal High Income ETF Increases Dividend

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

Institutional Trading of First Trust Municipal High Income ETF

A number of large investors have recently made changes to their positions in FMHI. Glen Eagle Advisors LLC bought a new stake in First Trust Municipal High Income ETF during the 1st quarter valued at $91,000. Parallel Advisors LLC purchased a new position in shares of First Trust Municipal High Income ETF in the 1st quarter valued at $161,000. Western Wealth Management LLC bought a new position in shares of First Trust Municipal High Income ETF in the 1st quarter worth $162,000. Triumph Capital Management raised its position in shares of 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 in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of 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.