Cornerstone Wealth Management LLC Has $3.10 Million Holdings in First Trust Municipal High Income ETF (NASDAQ:FMHI)

Cornerstone Wealth Management LLC lifted its position in shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) by 3.8% during the 1st quarter, HoldingsChannel reports. The fund owned 64,318 shares of the company’s stock after purchasing an additional 2,366 shares during the period. Cornerstone Wealth Management LLC’s holdings in First Trust Municipal High Income ETF were worth $3,099,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. D.A. Davidson & CO. raised its position in First Trust Municipal High Income ETF by 1.8% in the fourth quarter. D.A. Davidson & CO. now owns 12,193 shares of the company’s stock valued at $581,000 after purchasing an additional 221 shares during the last quarter. DHJJ Financial Advisors Ltd. increased its stake in shares of First Trust Municipal High Income ETF by 2.9% in the first quarter. DHJJ Financial Advisors Ltd. now owns 8,127 shares of the company’s stock valued at $392,000 after buying an additional 229 shares during the period. Socha Financial Group LLC raised its holdings in First Trust Municipal High Income ETF by 2.6% in the 4th quarter. Socha Financial Group LLC now owns 17,903 shares of the company’s stock valued at $854,000 after buying an additional 457 shares during the last quarter. Platform Technology Partners boosted its position in First Trust Municipal High Income ETF by 1.0% during the 4th quarter. Platform Technology Partners now owns 58,402 shares of the company’s stock worth $2,796,000 after buying an additional 593 shares during the period. Finally, Westside Investment Management Inc. grew its holdings in First Trust Municipal High Income ETF by 66.7% during the 1st quarter. Westside Investment Management Inc. now owns 2,500 shares of the company’s stock worth $120,000 after acquiring an additional 1,000 shares during the last quarter.

First Trust Municipal High Income ETF Price Performance

Shares of FMHI stock traded up $0.20 during trading hours on Thursday, hitting $48.52. 24,132 shares of the company’s stock traded hands, compared to its average volume of 63,517. The stock’s 50 day simple moving average is $48.07 and its 200 day simple moving average is $47.89. First Trust Municipal High Income ETF has a 12 month low of $43.88 and a 12 month high of $48.71.

First Trust Municipal High Income ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 27th were issued a $0.163 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.03%. This is an increase from First Trust Municipal High Income ETF’s previous monthly dividend of $0.16. The ex-dividend date of this dividend was Thursday, June 27th.

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.