First Trust Flexible Municipal High Income ETF (NASDAQ:MFLX) Stock Price Up 0.9% – Still a Buy?

First Trust Flexible Municipal High Income ETF (NASDAQ:MFLX) shares shot up 0.9% on Wednesday . The company traded as high as $17.04 and last traded at $17.0650. 1,295 shares traded hands during trading, a decline of 74% from the average session volume of 4,945 shares. The stock had previously closed at $16.91.

First Trust Flexible Municipal High Income ETF Price Performance

The stock’s 50 day simple moving average is $17.15 and its two-hundred day simple moving average is $17.07. The stock has a market cap of $18.77 million, a price-to-earnings ratio of 16.73 and a beta of 0.40.

First Trust Flexible Municipal High Income ETF Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were paid a $0.06 dividend. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Thursday, March 26th. First Trust Flexible Municipal High Income ETF’s payout ratio is currently 67.65%.

Institutional Investors Weigh In On First Trust Flexible Municipal High Income ETF

Several institutional investors and hedge funds have recently made changes to their positions in MFLX. Susquehanna International Group LLP acquired a new stake in shares of First Trust Flexible Municipal High Income ETF in the 3rd quarter valued at $786,000. BDFS Capital LLC acquired a new stake in shares of First Trust Flexible Municipal High Income ETF in the 4th quarter valued at $298,000. Beacon Pointe Advisors LLC acquired a new stake in shares of First Trust Flexible Municipal High Income ETF in the 2nd quarter valued at $214,000. Goldman Sachs Group Inc. acquired a new stake in shares of First Trust Flexible Municipal High Income ETF in the 4th quarter valued at $204,000. Finally, Osaic Holdings Inc. boosted its stake in shares of First Trust Flexible Municipal High Income ETF by 29.3% in the 2nd quarter. Osaic Holdings Inc. now owns 40,907 shares of the technology company’s stock valued at $678,000 after purchasing an additional 9,276 shares in the last quarter. Institutional investors and hedge funds own 31.03% of the company’s stock.

About First Trust Flexible Municipal High Income ETF

Multi-Fineline Electronix, Inc is engaged in the engineering, design and manufacture of flexible circuit boards along with related component assemblies. The Company provides flexible printed circuits and value-added component assembly solutions to the electronics industry. The Company provides its solutions to original equipment manufacturers (OEMs) and to electronic manufacturing services (EMS) providers. The Company offers products in a range of sectors, including smartphones, tablets, computer/data storage, portable bar code scanners, personal computers, wearables and other consumer electronic devices.