First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Large Volume Increase – Here’s Why

First Trust Municipal High Income ETF (NASDAQ:FMHI) shares saw strong trading volume on Tuesday. 443,955 shares were traded during trading, an increase of 235% from the previous session’s volume of 132,692 shares. The stock last traded at $44.8170 and had previously closed at $44.90.

First Trust Municipal High Income ETF Stock Up 0.0%

The stock’s 50-day moving average price is $46.67 and its 200 day moving average price is $47.59.

First Trust Municipal High Income ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were issued a dividend of $0.1790 per share. This is a boost from First Trust Municipal High Income ETF’s previous monthly dividend of $0.1780. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $2.15 dividend on an annualized basis and a dividend yield of 4.8%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Glen Eagle Advisors LLC acquired a new position in First Trust Municipal High Income ETF during the first quarter worth $91,000. Parallel Advisors LLC purchased a new position in First Trust Municipal High Income ETF during the first quarter worth about $161,000. Western Wealth Management LLC purchased a new stake in shares of First Trust Municipal High Income ETF in the first quarter worth about $162,000. Triumph Capital Management raised its position in First Trust Municipal High Income ETF by 152.1% during the second quarter. Triumph Capital Management now owns 4,475 shares of the company’s stock valued at $217,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of First Trust Municipal High Income ETF during the 2nd quarter valued at $235,000.

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.