First Trust Municipal High Income ETF (NASDAQ:FMHI) Sets New 12-Month High at $48.71

First Trust Municipal High Income ETF (NASDAQ:FMHI)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $48.71 and last traded at $48.70, with a volume of 775 shares changing hands. The stock had previously closed at $48.53.

First Trust Municipal High Income ETF Stock Performance

The stock has a 50-day moving average of $48.18 and a 200-day moving average of $47.93.

First Trust Municipal High Income ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 27th were given a dividend of $0.163 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date was Thursday, June 27th. This is a positive change from First Trust Municipal High Income ETF’s previous monthly dividend of $0.16.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FMHI. Socha Financial Group LLC lifted its holdings in shares of First Trust Municipal High Income ETF by 2.6% in the fourth quarter. Socha Financial Group LLC now owns 17,903 shares of the company’s stock valued at $854,000 after buying an additional 457 shares during the period. WealthCare Investment Partners LLC purchased a new position in First Trust Municipal High Income ETF in the first quarter valued at about $376,000. Traction Financial Partners LLC purchased a new position in First Trust Municipal High Income ETF in the fourth quarter valued at about $1,004,000. Raymond James Trust N.A. bought a new stake in shares of First Trust Municipal High Income ETF during the 4th quarter worth about $562,000. Finally, Wealthcare Advisory Partners LLC bought a new stake in shares of First Trust Municipal High Income ETF during the 4th quarter worth about $200,000.

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.