First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Large Volume Increase – What’s Next?

First Trust Municipal High Income ETF (NASDAQ:FMHI) saw strong trading volume on Monday. 238,780 shares were traded during mid-day trading, an increase of 67% from the previous session’s volume of 143,312 shares. The stock last traded at $44.6360 and had previously closed at $44.77.

First Trust Municipal High Income ETF Price Performance

The firm’s 50 day simple moving average is $46.44 and its two-hundred day simple moving average is $47.51.

First Trust Municipal High Income ETF Increases Dividend

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

Institutional Investors Weigh In On First Trust Municipal High Income ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in shares of First Trust Municipal High Income ETF by 23.7% during the first quarter. Bank of America Corp DE now owns 798,920 shares of the company’s stock worth $37,981,000 after purchasing an additional 153,170 shares during the period. Meeder Advisory Services Inc. raised its position in First Trust Municipal High Income ETF by 11.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 542,231 shares of the company’s stock valued at $25,778,000 after purchasing an additional 53,886 shares during the last quarter. Cetera Investment Advisers lifted its holdings in First Trust Municipal High Income ETF by 29.2% in the 1st quarter. Cetera Investment Advisers now owns 359,142 shares of the company’s stock worth $17,074,000 after buying an additional 81,197 shares during the period. NewEdge Advisors LLC lifted its holdings in First Trust Municipal High Income ETF by 10.2% in the 2nd quarter. NewEdge Advisors LLC now owns 296,778 shares of the company’s stock worth $14,391,000 after buying an additional 27,555 shares during the period. Finally, Ashton Thomas Securities LLC lifted its holdings in First Trust Municipal High Income ETF by 6.9% in the 1st quarter. Ashton Thomas Securities LLC now owns 146,300 shares of the company’s stock worth $6,955,000 after buying an additional 9,422 shares during the period.

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.