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

Shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) saw unusually-high trading volume on Tuesday . Approximately 120,881 shares were traded during mid-day trading, an increase of 35% from the previous session’s volume of 89,585 shares.The stock last traded at $47.83 and had previously closed at $47.95.

First Trust Municipal High Income ETF Trading Up 0.1 %

The business’s 50-day simple moving average is $48.61 and its two-hundred day simple moving average is $48.84.

First Trust Municipal High Income ETF Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $0.163 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date was Friday, December 13th.

Hedge Funds Weigh In On First Trust Municipal High Income ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC acquired a new stake in First Trust Municipal High Income ETF during the 3rd 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 approximately $109,000. Mach 1 Financial Group LLC bought a new stake in First Trust Municipal High Income ETF in the third quarter worth approximately $204,000. SeaCrest Wealth Management LLC acquired a new position in First Trust Municipal High Income ETF in the third quarter valued at approximately $225,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of First Trust Municipal High Income ETF during the 2nd quarter worth approximately $279,000.

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.