First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Large Volume Increase – Time to Buy?

Shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) saw unusually-high trading volume on Monday . Approximately 171,947 shares changed hands during mid-day trading, an increase of 113% from the previous session’s volume of 80,820 shares.The stock last traded at $46.32 and had previously closed at $45.90.

First Trust Municipal High Income ETF Stock Performance

The business’s 50 day moving average price is $48.03 and its 200-day moving average price is $48.45.

First Trust Municipal High Income ETF Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were given a dividend of $0.163 per share. The ex-dividend date was Thursday, March 27th. This represents a $1.96 annualized dividend and a yield of 4.21%.

Institutional Trading of First Trust Municipal High Income ETF

Several hedge funds have recently added to or reduced their stakes in FMHI. Flagstar Advisors Inc. increased its position in First Trust Municipal High Income ETF by 1.0% during the 1st quarter. Flagstar Advisors Inc. now owns 29,269 shares of the company’s stock worth $1,399,000 after buying an additional 294 shares during the period. AdvisorNet Financial Inc raised its stake in First Trust Municipal High Income ETF by 8.6% in the 1st quarter. AdvisorNet Financial Inc now owns 12,703 shares of the company’s stock worth $607,000 after purchasing an additional 1,004 shares in the last quarter. Hobart Private Capital LLC boosted its holdings in First Trust Municipal High Income ETF by 5.6% in the 1st quarter. Hobart Private Capital LLC now owns 25,624 shares of the company’s stock valued at $1,225,000 after purchasing an additional 1,348 shares during the period. Armis Advisers LLC bought a new stake in First Trust Municipal High Income ETF in the 4th quarter valued at about $380,000. Finally, Visionary Wealth Advisors grew its position in shares of First Trust Municipal High Income ETF by 24.0% during the 4th quarter. Visionary Wealth Advisors now owns 72,616 shares of the company’s stock worth $3,507,000 after purchasing an additional 14,058 shares in the last quarter.

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.