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

First Trust Municipal High Income ETF (NASDAQ:FMHI) shares saw strong trading volume on Wednesday. Approximately 95,790 shares traded hands during trading, a decline of 23% from the previous session’s volume of 124,380 shares. The stock last traded at $45.0490 and had previously closed at $44.48.

First Trust Municipal High Income ETF Price Performance

The firm has a 50-day moving average price of $47.01 and a two-hundred day moving average price of $47.72.

First Trust Municipal High Income ETF Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th will be issued a $0.1790 dividend. This represents a $2.15 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Thursday, September 24th. This is an increase from First Trust Municipal High Income ETF’s previous monthly dividend of $0.1780.

Institutional Investors Weigh In On First Trust Municipal High Income ETF

A number of large investors have recently modified their holdings of FMHI. Glen Eagle Advisors LLC acquired a new stake in shares of First Trust Municipal High Income ETF in the first quarter valued at about $91,000. Parallel Advisors LLC purchased a new position in shares of First Trust Municipal High Income ETF in the first quarter worth about $161,000. Western Wealth Management LLC acquired a new position in First Trust Municipal High Income ETF during the first quarter worth about $162,000. Triumph Capital Management boosted its position in 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 acquiring an additional 2,700 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in First Trust Municipal High Income ETF during the 2nd quarter valued at about $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.