First Horizon Advisors Inc. Takes $2.39 Million Position in First Trust Municipal High Income ETF (NASDAQ:FMHI)

First Horizon Advisors Inc. acquired a new position in shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) during the fourth quarter, Holdings Channel.com reports. The fund acquired 49,500 shares of the company’s stock, valued at approximately $2,390,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. HighTower Advisors LLC increased its position in shares of First Trust Municipal High Income ETF by 186.1% during the third quarter. HighTower Advisors LLC now owns 172,366 shares of the company’s stock valued at $8,513,000 after buying an additional 112,110 shares during the period. JPMorgan Chase & Co. grew its stake in First Trust Municipal High Income ETF by 209.2% during the third quarter. JPMorgan Chase & Co. now owns 106,235 shares of the company’s stock valued at $5,248,000 after acquiring an additional 71,872 shares in the last quarter. Stephens Inc. AR increased its holdings in First Trust Municipal High Income ETF by 132.3% during the 3rd quarter. Stephens Inc. AR now owns 69,909 shares of the company’s stock worth $3,454,000 after acquiring an additional 39,809 shares during the period. Jane Street Group LLC lifted its stake in First Trust Municipal High Income ETF by 93.4% in the 3rd quarter. Jane Street Group LLC now owns 66,694 shares of the company’s stock worth $3,295,000 after purchasing an additional 32,213 shares in the last quarter. Finally, RFG Advisory LLC boosted its holdings in First Trust Municipal High Income ETF by 61.5% in the 4th quarter. RFG Advisory LLC now owns 61,850 shares of the company’s stock valued at $2,987,000 after purchasing an additional 23,548 shares during the period.

First Trust Municipal High Income ETF Stock Performance

FMHI opened at $48.57 on Monday. First Trust Municipal High Income ETF has a one year low of $47.33 and a one year high of $49.51. The company has a fifty day moving average price of $48.33 and a 200-day moving average price of $48.79.

First Trust Municipal High Income ETF Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 21st will be issued a $0.163 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.96 annualized dividend and a dividend yield of 4.03%.

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.