First Trust Municipal High Income ETF (NASDAQ:FMHI) Reaches New 1-Year Low – Here’s Why

First Trust Municipal High Income ETF (NASDAQ:FMHI) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $46.73 and last traded at $46.85, with a volume of 16372 shares changing hands. The stock had previously closed at $46.83.

First Trust Municipal High Income ETF Stock Performance

The firm has a 50-day moving average price of $47.80 and a two-hundred day moving average price of $48.00.

First Trust Municipal High Income ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 21st were issued a dividend of $0.178 per share. The ex-dividend date of this dividend was Friday, August 21st. This is an increase from First Trust Municipal High Income ETF’s previous monthly dividend of $0.18. This represents a c) dividend on an annualized basis and a yield of 4.6%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FMHI. Ameritas Advisory Services LLC acquired a new stake in First Trust Municipal High Income ETF during the 2nd quarter worth $1,243,000. Concurrent Investment Advisors LLC grew its holdings in shares of First Trust Municipal High Income ETF by 112.9% during the second quarter. Concurrent Investment Advisors LLC now owns 33,984 shares of the company’s stock worth $1,648,000 after purchasing an additional 18,020 shares during the last quarter. Triumph Capital Management increased its position in shares of First Trust Municipal High Income ETF by 152.1% during the second quarter. Triumph Capital Management now owns 4,475 shares of the company’s stock worth $217,000 after purchasing an additional 2,700 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of First Trust Municipal High Income ETF during the second quarter worth about $235,000. Finally, Dynamic Advisor Solutions LLC lifted its holdings in shares of First Trust Municipal High Income ETF by 3.1% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 8,335 shares of the company’s stock valued at $404,000 after purchasing an additional 252 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.