First Trust Municipal High Income ETF (NASDAQ:FMHI) Sets New 52-Week Low – Here’s What Happened

Shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) reached a new 52-week low during trading on Wednesday . The company traded as low as $46.03 and last traded at $46.1150, with a volume of 56140 shares. The stock had previously closed at $46.09.

First Trust Municipal High Income ETF Price Performance

The firm has a 50-day moving average of $47.45 and a two-hundred day moving average of $47.88.

First Trust Municipal High Income ETF Increases Dividend

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

Hedge Funds Weigh In On First Trust Municipal High Income ETF

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dynamic Advisor Solutions LLC grew its holdings in shares of First Trust Municipal High Income ETF by 3.1% during the second quarter. Dynamic Advisor Solutions LLC now owns 8,335 shares of the company’s stock valued at $404,000 after buying an additional 252 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in First Trust Municipal High Income ETF by 1.6% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 19,160 shares of the company’s stock worth $911,000 after acquiring an additional 300 shares in the last quarter. GSG Advisors LLC lifted its stake in First Trust Municipal High Income ETF by 1.6% in the 1st quarter. GSG Advisors LLC now owns 27,588 shares of the company’s stock worth $1,312,000 after acquiring an additional 425 shares in the last quarter. Hedeker Wealth LLC boosted its position in First Trust Municipal High Income ETF by 5.6% during the 2nd quarter. Hedeker Wealth LLC now owns 10,518 shares of the company’s stock worth $510,000 after acquiring an additional 558 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its stake in First Trust Municipal High Income ETF by 6.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 9,767 shares of the company’s stock valued at $468,000 after acquiring an additional 625 shares in 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.