First Trust Municipal High Income ETF (NASDAQ:FMHI) Reaches New 12-Month Low – Here’s What Happened

First Trust Municipal High Income ETF (NASDAQ:FMHI) reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $46.00 and last traded at $45.99, with a volume of 22189 shares trading hands. The stock had previously closed at $46.20.

First Trust Municipal High Income ETF Stock Performance

The company’s fifty day moving average is $47.22 and its 200-day moving average is $47.80.

First Trust Municipal High Income ETF Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th will be issued a $0.1790 dividend. The ex-dividend date is Thursday, September 24th. This represents a $2.15 dividend on an annualized basis and a dividend yield of 4.7%. This is a boost from First Trust Municipal High Income ETF’s previous monthly dividend of $0.1780.

Institutional Investors Weigh In On First Trust Municipal High Income ETF

A number of hedge funds have recently made changes to their positions in FMHI. Bank of America Corp DE raised its position in First Trust Municipal High Income ETF by 23.7% during the first quarter. Bank of America Corp DE now owns 798,920 shares of the company’s stock valued at $37,981,000 after acquiring an additional 153,170 shares in the last quarter. Cetera Investment Advisers grew its holdings in First Trust Municipal High Income ETF by 29.2% in the first quarter. Cetera Investment Advisers now owns 359,142 shares of the company’s stock valued at $17,074,000 after purchasing an additional 81,197 shares during the period. Vise Technologies Inc. grew its stake in First Trust Municipal High Income ETF by 147.2% in the 4th quarter. Vise Technologies Inc. now owns 116,797 shares of the company’s stock valued at $5,599,000 after acquiring an additional 69,545 shares during the period. Meeder Advisory Services Inc. increased its stake in shares of First Trust Municipal High Income ETF by 11.0% during the first quarter. Meeder Advisory Services Inc. now owns 542,231 shares of the company’s stock worth $25,778,000 after purchasing an additional 53,886 shares in the last quarter. Finally, Capital Financial Group Inc. Co. ADV purchased a new stake in First Trust Municipal High Income ETF during the 4th quarter worth approximately $1,892,000.

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.