Cornerstone Wealth Management LLC Has $3.55 Million Position in First Trust Municipal High Income ETF (NASDAQ:FMHI)

Cornerstone Wealth Management LLC lifted its holdings in shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,756 shares of the company’s stock after buying an additional 2,518 shares during the period. Cornerstone Wealth Management LLC owned about 0.48% of First Trust Municipal High Income ETF worth $3,545,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of FMHI. NewEdge Advisors LLC boosted its position in First Trust Municipal High Income ETF by 561.0% during the second quarter. NewEdge Advisors LLC now owns 188,505 shares of the company’s stock valued at $9,109,000 after purchasing an additional 159,987 shares during the last quarter. Cetera Investment Advisers increased its holdings in First Trust Municipal High Income ETF by 585.7% during the first quarter. Cetera Investment Advisers now owns 145,955 shares of the company’s stock worth $7,032,000 after buying an additional 124,671 shares during the last quarter. Jane Street Group LLC raised its position in First Trust Municipal High Income ETF by 881.4% during the first quarter. Jane Street Group LLC now owns 107,345 shares of the company’s stock worth $5,172,000 after acquiring an additional 96,407 shares in the last quarter. Meeder Advisory Services Inc. acquired a new stake in First Trust Municipal High Income ETF in the second quarter valued at $4,024,000. Finally, Atlas Private Wealth Advisors grew its position in shares of First Trust Municipal High Income ETF by 93.3% in the 2nd quarter. Atlas Private Wealth Advisors now owns 160,702 shares of the company’s stock valued at $7,765,000 after acquiring an additional 77,560 shares during the period.

First Trust Municipal High Income ETF Price Performance

FMHI opened at $49.21 on Thursday. First Trust Municipal High Income ETF has a 12-month low of $43.88 and a 12-month high of $49.51. The business has a 50 day moving average of $49.17 and a 200-day moving average of $48.53.

First Trust Municipal High Income ETF Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 26th were issued a $0.163 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend was Thursday, September 26th.

First Trust Municipal High Income ETF 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.