First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Large Volume Increase – Should You Buy?

First Trust Municipal High Income ETF (NASDAQ:FMHI) saw unusually-high trading volume on Wednesday. 95,790 shares were traded during trading, a decline of 23% from the previous session’s volume of 124,380 shares. The stock last traded at $45.0490 and had previously closed at $44.48.

First Trust Municipal High Income ETF Trading Up 1.1%

The stock’s fifty day moving average is $47.01 and its 200-day moving average is $47.72.

First Trust Municipal High Income ETF Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th will be given 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 is Thursday, September 24th. This represents a $2.15 dividend on an annualized basis and a dividend yield of 4.8%.

Institutional Trading of First Trust Municipal High Income ETF

Several institutional investors have recently bought and sold shares of FMHI. 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 stake in shares of 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 during the first quarter worth about $162,000. Triumph Capital Management raised its position in shares of First Trust Municipal High Income ETF by 152.1% during the 2nd quarter. Triumph Capital Management now owns 4,475 shares of the company’s stock worth $217,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of First Trust Municipal High Income ETF during the 2nd quarter worth about $235,000.

First Trust Municipal High Income ETF Company Profile

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.