First Trust Municipal High Income ETF (NASDAQ:FMHI) Hits New 12-Month Low – Here’s Why

First Trust Municipal High Income ETF (NASDAQ:FMHI)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $46.73 and last traded at $46.85, with a volume of 16372 shares trading hands. The stock had previously closed at $46.83.

First Trust Municipal High Income ETF Stock Down 0.4%

The firm has a fifty day simple moving average of $47.73 and a two-hundred day simple moving average of $47.97.

First Trust Municipal High Income ETF Increases Dividend

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

Institutional Trading of First Trust Municipal High Income ETF

Large investors have recently bought and sold shares of the stock. Morgan Stanley raised its holdings in shares of First Trust Municipal High Income ETF by 9.7% in the fourth quarter. Morgan Stanley now owns 1,321,787 shares of the company’s stock worth $63,359,000 after buying an additional 117,314 shares during the last quarter. LPL Financial LLC grew its holdings in shares of First Trust Municipal High Income ETF by 12.5% during the fourth quarter. LPL Financial LLC now owns 1,167,716 shares of the company’s stock valued at $55,974,000 after buying an additional 129,684 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of First Trust Municipal High Income ETF by 15.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,145,777 shares of the company’s stock valued at $54,922,000 after acquiring an additional 154,624 shares during the period. Bank of America Corp DE increased its position in shares of First Trust Municipal High Income ETF by 23.7% in the 1st quarter. Bank of America Corp DE now owns 798,920 shares of the company’s stock valued at $37,981,000 after acquiring an additional 153,170 shares during the period. Finally, Meeder Advisory Services Inc. raised its stake in 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 worth $25,778,000 after acquiring an additional 53,886 shares during 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.