Capital Investment Advisory Services LLC Cuts Stock Position in First Trust Municipal High Income ETF (NASDAQ:FMHI)

Capital Investment Advisory Services LLC cut its holdings in First Trust Municipal High Income ETF (NASDAQ:FMHI) by 11.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,550 shares of the company’s stock after selling 2,275 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in First Trust Municipal High Income ETF were worth $839,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its position in shares of First Trust Municipal High Income ETF by 13.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,303,252 shares of the company’s stock valued at $62,302,000 after buying an additional 151,935 shares in the last quarter. LPL Financial LLC increased its position in shares of First Trust Municipal High Income ETF by 10.1% in the fourth quarter. LPL Financial LLC now owns 984,276 shares of the company’s stock valued at $47,531,000 after buying an additional 90,504 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of First Trust Municipal High Income ETF by 6.1% in the fourth quarter. Wells Fargo & Company MN now owns 700,256 shares of the company’s stock valued at $33,815,000 after buying an additional 40,466 shares in the last quarter. Bank of America Corp DE increased its position in shares of First Trust Municipal High Income ETF by 9.6% in the fourth quarter. Bank of America Corp DE now owns 671,953 shares of the company’s stock valued at $32,449,000 after buying an additional 58,620 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of First Trust Municipal High Income ETF in the fourth quarter valued at approximately $17,256,000.

First Trust Municipal High Income ETF Stock Performance

First Trust Municipal High Income ETF stock opened at $46.78 on Friday. First Trust Municipal High Income ETF has a 12 month low of $44.80 and a 12 month high of $49.51. The business has a 50 day simple moving average of $46.69 and a 200-day simple moving average of $47.52.

First Trust Municipal High Income ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 26th were given a dividend of $0.166 per share. This represents a $1.99 annualized dividend and a dividend yield of 4.26%. This is a boost from First Trust Municipal High Income ETF’s previous monthly dividend of $0.17. The ex-dividend date was Thursday, June 26th.

First Trust Municipal High Income ETF 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.