First Trust Municipal High Income ETF (NASDAQ:FMHI) Reaches New 12-Month High at $48.50

Shares of First Trust Municipal High Income ETF (NASDAQ:FMHIGet Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $48.50 and last traded at $48.50, with a volume of 100 shares trading hands. The stock had previously closed at $48.18.

First Trust Municipal High Income ETF Stock Up 0.7 %

The business has a 50 day moving average of $47.91 and a 200-day moving average of $46.72.

First Trust Municipal High Income ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 22nd were paid a dividend of $0.159 per share. The ex-dividend date was Thursday, March 21st. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.93%. This is a positive change from First Trust Municipal High Income ETF’s previous monthly dividend of $0.16.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FMHI. Coppell Advisory Solutions LLC purchased a new position in shares of First Trust Municipal High Income ETF during the 2nd quarter worth $31,000. M&R Capital Management Inc. purchased a new position in First Trust Municipal High Income ETF during the third quarter worth about $43,000. Gradient Investments LLC boosted its stake in First Trust Municipal High Income ETF by 397.6% in the 3rd quarter. Gradient Investments LLC now owns 1,020 shares of the company’s stock worth $46,000 after buying an additional 815 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in First Trust Municipal High Income ETF in the 1st quarter valued at about $47,000. Finally, Principal Securities Inc. acquired a new position in shares of First Trust Municipal High Income ETF during the 4th quarter valued at about $48,000.

First Trust Municipal High Income ETF Company Profile

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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.

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