1900 Wealth Management LLC Takes Position in First Trust Municipal High Income ETF (NASDAQ:FMHI)

1900 Wealth Management LLC purchased a new position in First Trust Municipal High Income ETF (NASDAQ:FMHI) during the fourth quarter, HoldingsChannel reports. The firm purchased 12,405 shares of the company’s stock, valued at approximately $599,000.

A number of other institutional investors have also modified their holdings of the stock. HighTower Advisors LLC raised its holdings in shares of First Trust Municipal High Income ETF by 186.1% in the 3rd quarter. HighTower Advisors LLC now owns 172,366 shares of the company’s stock valued at $8,513,000 after purchasing an additional 112,110 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of First Trust Municipal High Income ETF by 209.2% during the third quarter. JPMorgan Chase & Co. now owns 106,235 shares of the company’s stock valued at $5,248,000 after buying an additional 71,872 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in First Trust Municipal High Income ETF by 4.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,521,354 shares of the company’s stock valued at $75,155,000 after purchasing an additional 59,086 shares during the last quarter. Stephens Inc. AR increased its holdings in First Trust Municipal High Income ETF by 132.3% in the 3rd quarter. Stephens Inc. AR now owns 69,909 shares of the company’s stock worth $3,454,000 after buying an additional 39,809 shares during the period. Finally, Jane Street Group LLC increased its stake in shares of First Trust Municipal High Income ETF by 93.4% in the third quarter. Jane Street Group LLC now owns 66,694 shares of the company’s stock worth $3,295,000 after acquiring an additional 32,213 shares during the period.

First Trust Municipal High Income ETF Trading Down 0.1 %

Shares of FMHI stock opened at $48.70 on Friday. The stock has a 50 day moving average of $48.47 and a 200 day moving average of $48.82. First Trust Municipal High Income ETF has a twelve month low of $47.33 and a twelve month high of $49.51.

First Trust Municipal High Income ETF Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 22nd were given a $0.163 dividend. The ex-dividend date of this dividend was Wednesday, January 22nd. This represents a $1.96 annualized dividend and a dividend yield of 4.02%.

First Trust Municipal High Income ETF 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.