First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Large Volume Increase Following Dividend Announcement

Shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) saw strong trading volume on Tuesday following a dividend announcement from the company. 132,275 shares traded hands during mid-day trading, an increase of 109% from the previous session’s volume of 63,441 shares.The stock last traded at $49.06 and had previously closed at $48.96.

The newly announced dividend which will be paid on Friday, August 30th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.163 per share. The ex-dividend date is Wednesday, August 21st. This represents a $1.96 dividend on an annualized basis and a yield of 4.00%.

First Trust Municipal High Income ETF Stock Performance

The firm’s 50 day simple moving average is $48.74 and its 200-day simple moving average is $48.19.

Institutional Trading of First Trust Municipal High Income ETF

Several large investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers grew its position in First Trust Municipal High Income ETF by 10.3% in the second quarter. Cetera Investment Advisers now owns 161,055 shares of the company’s stock valued at $7,782,000 after acquiring an additional 15,100 shares in the last quarter. Truist Financial Corp grew its holdings in First Trust Municipal High Income ETF by 1.8% during the 2nd quarter. Truist Financial Corp now owns 13,605 shares of the company’s stock valued at $657,000 after purchasing an additional 243 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in First Trust Municipal High Income ETF during the 2nd quarter valued at $279,000. Traction Financial Partners LLC increased its stake in First Trust Municipal High Income ETF by 10.0% during the 2nd quarter. Traction Financial Partners LLC now owns 27,500 shares of the company’s stock worth $1,349,000 after buying an additional 2,495 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in First Trust Municipal High Income ETF by 561.0% in the 2nd quarter. NewEdge Advisors LLC now owns 188,505 shares of the company’s stock worth $9,109,000 after buying an additional 159,987 shares in the last quarter.

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.