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

Shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) saw unusually-strong trading volume on Monday . Approximately 29,685 shares traded hands during mid-day trading, a decline of 58% from the previous session’s volume of 70,753 shares.The stock last traded at $48.90 and had previously closed at $48.73.

First Trust Municipal High Income ETF Stock Performance

The business has a 50-day moving average price of $49.00 and a 200 day moving average price of $48.75.

First Trust Municipal High Income ETF Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.163 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Thursday, November 21st.

Hedge Funds Weigh In On First Trust Municipal High Income ETF

A number of institutional investors have recently bought and sold shares of FMHI. NewEdge Advisors LLC lifted its stake in First Trust Municipal High Income ETF by 561.0% during the second quarter. NewEdge Advisors LLC now owns 188,505 shares of the company’s stock valued at $9,109,000 after buying an additional 159,987 shares in the last quarter. Cetera Investment Advisers boosted its stake in First Trust Municipal High Income ETF by 585.7% in the 1st quarter. Cetera Investment Advisers now owns 145,955 shares of the company’s stock worth $7,032,000 after purchasing an additional 124,671 shares during the period. HighTower Advisors LLC grew its position in First Trust Municipal High Income ETF by 186.1% during the 3rd quarter. HighTower Advisors LLC now owns 172,366 shares of the company’s stock worth $8,513,000 after purchasing an additional 112,110 shares in the last quarter. Jane Street Group LLC raised its stake in First Trust Municipal High Income ETF by 881.4% during the 1st quarter. Jane Street Group LLC now owns 107,345 shares of the company’s stock valued at $5,172,000 after purchasing an additional 96,407 shares during the period. Finally, Meeder Advisory Services Inc. purchased a new stake in shares of First Trust Municipal High Income ETF in the second quarter valued at $4,024,000.

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.