First Trust Municipal High Income ETF (NASDAQ:FMHI) Reaches New 1-Year High at $48.70

Shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) hit a new 52-week high on Tuesday . The stock traded as high as $48.70 and last traded at $48.66, with a volume of 7274 shares trading hands. The stock had previously closed at $48.55.

First Trust Municipal High Income ETF Stock Performance

The business has a 50 day moving average price of $47.86 and a two-hundred day moving average price of $47.77.

First Trust Municipal High Income ETF Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 22nd were given a dividend of $0.159 per share. The ex-dividend date was Tuesday, May 21st. This represents a $1.91 annualized dividend and a yield of 3.92%.

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. Principal Securities Inc. purchased a new position in First Trust Municipal High Income ETF during the 4th quarter valued at about $48,000. Creekmur Asset Management LLC purchased a new position in shares of First Trust Municipal High Income ETF during the fourth quarter valued at approximately $53,000. Westside Investment Management Inc. increased its stake in shares of First Trust Municipal High Income ETF by 66.7% during the first quarter. Westside Investment Management Inc. now owns 2,500 shares of the company’s stock valued at $120,000 after buying an additional 1,000 shares during the period. Wealthcare Advisory Partners LLC bought a new position in shares of First Trust Municipal High Income ETF during the fourth quarter valued at approximately $200,000. Finally, Key Financial Inc purchased a new stake in First Trust Municipal High Income ETF in the fourth quarter worth $209,000.

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.