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

First Trust Municipal High Income ETF (NASDAQ:FMHI) saw an uptick in trading volume on Monday . 81,367 shares were traded during trading, an increase of 8% from the previous session’s volume of 75,351 shares.The stock last traded at $48.21 and had previously closed at $48.28.

First Trust Municipal High Income ETF Stock Performance

The stock’s fifty day moving average is $48.44 and its two-hundred day moving average is $48.72.

First Trust Municipal High Income ETF Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were given a $0.163 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.06%.

Hedge Funds Weigh In On First Trust Municipal High Income ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in shares of First Trust Municipal High Income ETF during the 4th quarter valued at about $17,256,000. HighTower Advisors LLC lifted its position in First Trust Municipal High Income ETF by 186.1% during the third quarter. HighTower Advisors LLC now owns 172,366 shares of the company’s stock valued at $8,513,000 after purchasing an additional 112,110 shares during the last quarter. Hughes Financial Services LLC purchased a new position in First Trust Municipal High Income ETF in the 4th quarter worth approximately $4,685,000. LPL Financial LLC increased its holdings in shares of First Trust Municipal High Income ETF by 10.1% in the 4th quarter. LPL Financial LLC now owns 984,276 shares of the company’s stock worth $47,531,000 after buying an additional 90,504 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in First Trust Municipal High Income ETF by 209.2% in the third quarter. JPMorgan Chase & Co. now owns 106,235 shares of the company’s stock valued at $5,248,000 after acquiring an additional 71,872 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.