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

First Trust Municipal High Income ETF (NASDAQ:FMHI) saw unusually-strong trading volume on Wednesday . 78,241 shares traded hands during trading, a decline of 31% from the previous session’s volume of 112,760 shares.The stock last traded at $48.41 and had previously closed at $48.58.

First Trust Municipal High Income ETF Price Performance

The stock has a fifty day moving average price of $48.21 and a two-hundred day moving average price of $48.12.

First Trust Municipal High Income ETF Increases Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were given a dividend of $0.177 per share. The ex-dividend date was Thursday, June 25th. This is a boost from First Trust Municipal High Income ETF’s previous dividend of $0.18.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC grew its holdings in shares of First Trust Municipal High Income ETF by 3.1% during the second quarter. Dynamic Advisor Solutions LLC now owns 8,335 shares of the company’s stock worth $404,000 after buying an additional 252 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in shares of First Trust Municipal High Income ETF by 1.6% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 19,160 shares of the company’s stock worth $911,000 after purchasing an additional 300 shares during the period. Altus Wealth Group LLC lifted its stake in shares of First Trust Municipal High Income ETF by 4.5% during the 4th quarter. Altus Wealth Group LLC now owns 7,484 shares of the company’s stock worth $359,000 after purchasing an additional 320 shares during the period. Orion Porfolio Solutions LLC boosted its holdings in shares of First Trust Municipal High Income ETF by 4.7% during the second quarter. Orion Porfolio Solutions LLC now owns 8,184 shares of the company’s stock worth $382,000 after purchasing an additional 365 shares during the last quarter. Finally, GSG Advisors LLC boosted its holdings in shares of First Trust Municipal High Income ETF by 1.6% during 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 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.