Manhattan West Asset Management LLC Takes Position in First Trust Municipal High Income ETF (NASDAQ:FMHI)

Manhattan West Asset Management LLC acquired a new stake in shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 124,089 shares of the company’s stock, valued at approximately $5,819,000. First Trust Municipal High Income ETF comprises 2.5% of Manhattan West Asset Management LLC’s investment portfolio, making the stock its 7th largest holding. Manhattan West Asset Management LLC owned approximately 1.68% of First Trust Municipal High Income ETF at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FMHI. Tanglewood Legacy Advisors LLC purchased a new position in First Trust Municipal High Income ETF in the 4th quarter worth $46,000. Carmichael Hill & Associates Inc. raised its stake in First Trust Municipal High Income ETF by 127.4% in the 1st quarter. Carmichael Hill & Associates Inc. now owns 1,028 shares of the company’s stock worth $48,000 after acquiring an additional 576 shares during the last quarter. Money Concepts Capital Corp purchased a new position in First Trust Municipal High Income ETF in the 4th quarter worth $79,000. UBS Group AG grew its position in First Trust Municipal High Income ETF by 769.8% during the 1st quarter. UBS Group AG now owns 1,644 shares of the company’s stock worth $84,000 after purchasing an additional 1,455 shares during the period. Finally, Eudaimonia Advisors LLC grew its position in First Trust Municipal High Income ETF by 8.4% during the 1st quarter. Eudaimonia Advisors LLC now owns 3,944 shares of the company’s stock worth $202,000 after purchasing an additional 305 shares during the period.

First Trust Municipal High Income ETF Price Performance

FMHI traded up $0.07 during midday trading on Friday, hitting $46.33. 78,682 shares of the company were exchanged, compared to its average volume of 71,313. The company’s 50 day simple moving average is $46.80 and its 200 day simple moving average is $46.85. First Trust Municipal High Income ETF has a 1-year low of $44.09 and a 1-year high of $48.08.

First Trust Municipal High Income ETF Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Thursday, August 31st. Shareholders of record on Wednesday, August 23rd were given a dividend of $0.1555 per share. This represents a $1.87 annualized dividend and a yield of 4.03%. The ex-dividend date was Tuesday, August 22nd.

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.