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

First Trust Municipal High Income ETF (NASDAQ:FMHI)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $46.03 and last traded at $46.1150, with a volume of 56140 shares trading hands. The stock had previously closed at $46.09.

First Trust Municipal High Income ETF Price Performance

The business’s 50 day moving average is $47.54 and its 200 day moving average is $47.91.

First Trust Municipal High Income ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 21st were given a $0.178 dividend. This represents a c) annualized dividend and a dividend yield of 4.6%. This is a boost from First Trust Municipal High Income ETF’s previous monthly dividend of $0.18. The ex-dividend date of this dividend was Friday, August 21st.

Institutional Trading of First Trust Municipal High Income ETF

Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its stake in shares of First Trust Municipal High Income ETF by 23.7% during the 1st quarter. Bank of America Corp DE now owns 798,920 shares of the company’s stock valued at $37,981,000 after buying an additional 153,170 shares during the period. Meeder Advisory Services Inc. grew its stake in shares of First Trust Municipal High Income ETF by 11.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 542,231 shares of the company’s stock valued at $25,778,000 after buying an additional 53,886 shares in the last quarter. Cetera Investment Advisers increased its holdings in First Trust Municipal High Income ETF by 29.2% in the first quarter. Cetera Investment Advisers now owns 359,142 shares of the company’s stock worth $17,074,000 after buying an additional 81,197 shares during the last quarter. NewEdge Advisors LLC increased its holdings in First Trust Municipal High Income ETF by 10.2% in the second quarter. NewEdge Advisors LLC now owns 296,778 shares of the company’s stock worth $14,391,000 after buying an additional 27,555 shares during the last quarter. Finally, SlateStone Wealth LLC raised its position in First Trust Municipal High Income ETF by 10.2% during the fourth quarter. SlateStone Wealth LLC now owns 269,208 shares of the company’s stock valued at $12,904,000 after acquiring an additional 24,889 shares in 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.