First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Unusually-High Trading Volume – Still a Buy?

First Trust Municipal High Income ETF (NASDAQ:FMHI) saw strong trading volume on Tuesday . 116,645 shares changed hands during trading, an increase of 67% from the previous session’s volume of 69,938 shares.The stock last traded at $48.99 and had previously closed at $48.95.

First Trust Municipal High Income ETF Stock Performance

The company has a 50-day moving average of $49.05 and a two-hundred day moving average of $48.71.

First Trust Municipal High Income ETF Announces Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 22nd were paid a dividend of $0.163 per share. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $1.96 annualized dividend and a yield of 4.00%.

Institutional Investors Weigh In On First Trust Municipal High Income ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new stake in First Trust Municipal High Income ETF during the second quarter worth about $30,000. Larson Financial Group LLC acquired a new stake in First Trust Municipal High Income ETF during the third quarter worth about $92,000. Farmers & Merchants Investments Inc. acquired a new stake in First Trust Municipal High Income ETF during the third quarter worth about $109,000. International Assets Investment Management LLC acquired a new stake in shares of First Trust Municipal High Income ETF in the second quarter valued at about $184,000. Finally, Mach 1 Financial Group LLC acquired a new stake in shares of First Trust Municipal High Income ETF in the third quarter valued at about $204,000.

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.