First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Strong Trading Volume – Should You Buy?

Shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) saw unusually-high trading volume on Tuesday . Approximately 120,881 shares changed hands during mid-day trading, an increase of 35% from the previous session’s volume of 89,585 shares.The stock last traded at $47.83 and had previously closed at $47.95.

First Trust Municipal High Income ETF Stock Up 0.1 %

The firm’s 50-day moving average price is $48.61 and its 200 day moving average price is $48.84.

First Trust Municipal High Income ETF Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $0.163 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.96 annualized dividend and a dividend yield of 4.06%.

Institutional Trading of First Trust Municipal High Income ETF

Several institutional investors and hedge funds have recently modified their holdings of FMHI. Wealth Enhancement Advisory Services LLC raised its stake in First Trust Municipal High Income ETF by 4.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,521,354 shares of the company’s stock worth $75,155,000 after acquiring an additional 59,086 shares in the last quarter. Financial Partners Group Inc increased its position in First Trust Municipal High Income ETF by 7.4% during the 3rd quarter. Financial Partners Group Inc now owns 235,646 shares of the company’s stock worth $11,641,000 after purchasing an additional 16,285 shares in the last quarter. NewEdge Advisors LLC lifted its stake in First Trust Municipal High Income ETF by 561.0% in the 2nd quarter. NewEdge Advisors LLC now owns 188,505 shares of the company’s stock valued at $9,109,000 after purchasing an additional 159,987 shares during the last quarter. HighTower Advisors LLC boosted its position in First Trust Municipal High Income ETF by 186.1% in the third quarter. HighTower Advisors LLC now owns 172,366 shares of the company’s stock valued at $8,513,000 after buying an additional 112,110 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of First Trust Municipal High Income ETF by 10.3% during the second quarter. Cetera Investment Advisers now owns 161,055 shares of the company’s stock worth $7,782,000 after buying an additional 15,100 shares during 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.