First Trust Municipal High Income ETF (NASDAQ:FMHI) Sets New 52-Week High at $48.91

First Trust Municipal High Income ETF (NASDAQ:FMHI)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $48.91 and last traded at $48.78, with a volume of 5774 shares. The stock had previously closed at $48.74.

First Trust Municipal High Income ETF Trading Up 0.1 %

The company’s 50-day simple moving average is $48.25 and its 200 day simple moving average is $47.96.

First Trust Municipal High Income ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 27th were given a dividend of $0.163 per share. This is a boost from First Trust Municipal High Income ETF’s previous monthly dividend of $0.16. The ex-dividend date was Thursday, June 27th. This represents a $1.96 dividend on an annualized basis and a yield of 4.01%.

Institutional Trading of First Trust Municipal High Income ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Trust N.A. purchased a new position in First Trust Municipal High Income ETF during the 4th quarter worth approximately $562,000. OneAscent Financial Services LLC increased its stake in shares of First Trust Municipal High Income ETF by 23.9% in the fourth quarter. OneAscent Financial Services LLC now owns 15,969 shares of the company’s stock worth $761,000 after acquiring an additional 3,084 shares during the period. Cyndeo Wealth Partners LLC raised its holdings in shares of First Trust Municipal High Income ETF by 629.8% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 101,849 shares of the company’s stock worth $4,856,000 after purchasing an additional 87,894 shares during the last quarter. Raymond James & Associates lifted its position in First Trust Municipal High Income ETF by 43.7% during the fourth quarter. Raymond James & Associates now owns 118,070 shares of the company’s stock valued at $5,630,000 after purchasing an additional 35,882 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in First Trust Municipal High Income ETF by 28.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 367,925 shares of the company’s stock valued at $17,543,000 after purchasing an additional 82,434 shares during the last quarter.

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.