Sequoia Financial Advisors LLC Makes New $2.87 Million Investment in First Trust Municipal High Income ETF $FMHI

Sequoia Financial Advisors LLC acquired a new stake in First Trust Municipal High Income ETF (NASDAQ:FMHI) in the third quarter, Holdings Channel reports. The institutional investor acquired 60,301 shares of the company’s stock, valued at approximately $2,865,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Jane Street Group LLC raised its position in First Trust Municipal High Income ETF by 888.7% in the 2nd quarter. Jane Street Group LLC now owns 131,035 shares of the company’s stock worth $6,119,000 after purchasing an additional 117,782 shares during the period. Ashton Thomas Securities LLC grew its stake in shares of First Trust Municipal High Income ETF by 190.9% during the third quarter. Ashton Thomas Securities LLC now owns 140,845 shares of the company’s stock valued at $6,692,000 after buying an additional 92,429 shares during the last quarter. Flow Traders U.S. LLC bought a new position in shares of First Trust Municipal High Income ETF during the second quarter valued at about $3,966,000. Vise Technologies Inc. purchased a new position in shares of First Trust Municipal High Income ETF in the second quarter worth about $3,021,000. Finally, AJ Advisors LLC bought a new stake in shares of First Trust Municipal High Income ETF in the 2nd quarter valued at about $2,760,000.

First Trust Municipal High Income ETF Stock Performance

Shares of FMHI stock opened at $48.02 on Wednesday. The business has a 50-day moving average of $47.96 and a 200 day moving average of $47.38. First Trust Municipal High Income ETF has a 1-year low of $44.80 and a 1-year high of $49.05.

First Trust Municipal High Income ETF Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, January 21st will be paid a dividend of $0.174 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. This is a boost from First Trust Municipal High Income ETF’s previous monthly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, January 21st.

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.