First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Large Volume Increase – Here’s Why

Shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) saw unusually-strong trading volume on Wednesday . Approximately 78,241 shares changed hands during mid-day trading, a decline of 31% from the previous session’s volume of 112,760 shares.The stock last traded at $48.41 and had previously closed at $48.58.

First Trust Municipal High Income ETF Stock Down 0.1%

The company has a 50 day simple moving average of $48.20 and a 200-day simple moving average of $48.12.

First Trust Municipal High Income ETF Increases Dividend

The business also recently announced a dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were given a dividend of $0.177 per share. The ex-dividend date was Thursday, June 25th. This is a boost from First Trust Municipal High Income ETF’s previous dividend of $0.18.

Institutional Investors Weigh In On First Trust Municipal High Income ETF

A number of large investors have recently bought and sold shares of the stock. Dynamic Advisor Solutions LLC raised its holdings in shares of First Trust Municipal High Income ETF by 3.1% during the second quarter. Dynamic Advisor Solutions LLC now owns 8,335 shares of the company’s stock valued at $404,000 after purchasing an additional 252 shares during the period. CoreCap Advisors LLC grew its stake in shares of First Trust Municipal High Income ETF by 12.2% in the 2nd quarter. CoreCap Advisors LLC now owns 6,687 shares of the company’s stock valued at $324,000 after buying an additional 728 shares during the period. Hobart Private Capital LLC grew its stake in shares of First Trust Municipal High Income ETF by 26.4% in the 2nd quarter. Hobart Private Capital LLC now owns 26,834 shares of the company’s stock valued at $1,301,000 after buying an additional 5,609 shares during the period. Western Wealth Management LLC bought a new stake in First Trust Municipal High Income ETF in the 1st quarter valued at about $162,000. Finally, NewEdge Advisors LLC increased its position in First Trust Municipal High Income ETF by 6.5% in the 1st quarter. NewEdge Advisors LLC now owns 269,223 shares of the company’s stock valued at $12,799,000 after buying an additional 16,490 shares in the last quarter.

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.