First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Strong Trading Volume – Should You Buy?

First Trust Municipal High Income ETF (NASDAQ:FMHI) saw strong trading volume on Tuesday . 120,881 shares changed hands during mid-day trading, an increase of 35% from the previous session’s volume of 89,585 shares.The stock last traded at $47.83 and had previously closed at $47.95.

First Trust Municipal High Income ETF Trading Down 0.2 %

The company has a fifty day moving average of $48.63 and a 200-day moving average of $48.85.

First Trust Municipal High Income ETF Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $0.163 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.96 annualized dividend and a dividend yield of 4.09%.

Institutional Investors Weigh In On First Trust Municipal High Income ETF

Several institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC purchased a new position in shares of First Trust Municipal High Income ETF during the 3rd quarter valued at $92,000. Farmers & Merchants Investments Inc. bought a new position in shares of First Trust Municipal High Income ETF during the third quarter valued at about $109,000. Mach 1 Financial Group LLC bought a new stake in shares of First Trust Municipal High Income ETF in the 3rd quarter valued at about $204,000. SeaCrest Wealth Management LLC purchased a new stake in First Trust Municipal High Income ETF during the 3rd quarter valued at about $225,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in First Trust Municipal High Income ETF during the 2nd quarter worth approximately $279,000.

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.