First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Large Volume Increase After Dividend Announcement

First Trust Municipal High Income ETF (NASDAQ:FMHI) saw unusually-strong trading volume on Friday after the company announced a dividend. Approximately 230,695 shares were traded during mid-day trading, an increase of 109% from the previous session’s volume of 110,462 shares.The stock last traded at $47.38 and had previously closed at $47.59.

The newly announced dividend which will be paid on Monday, August 31st. Stockholders of record on Friday, August 21st will be given a dividend of $0.178 per share. The ex-dividend date is Friday, August 21st. This is a positive change from First Trust Municipal High Income ETF’s previous dividend of $0.18.

First Trust Municipal High Income ETF Stock Performance

The company has a 50 day moving average price of $48.09 and a 200 day moving average price of $48.09.

Hedge Funds Weigh In On First Trust Municipal High Income ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Partners Group Inc boosted its position in shares of First Trust Municipal High Income ETF by 14.6% in the 4th quarter. Financial Partners Group Inc now owns 227,133 shares of the company’s stock worth $10,910,000 after buying an additional 28,880 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in First Trust Municipal High Income ETF by 81.2% during the 4th quarter. Oppenheimer & Co. Inc. now owns 48,517 shares of the company’s stock valued at $2,326,000 after acquiring an additional 21,741 shares in the last quarter. RFG Advisory LLC increased its holdings in First Trust Municipal High Income ETF by 246.5% during the 4th quarter. RFG Advisory LLC now owns 34,599 shares of the company’s stock valued at $1,658,000 after acquiring an additional 24,615 shares in the last quarter. UBS Group AG increased its holdings in First Trust Municipal High Income ETF by 10.3% during the 4th quarter. UBS Group AG now owns 324,495 shares of the company’s stock valued at $15,554,000 after acquiring an additional 30,404 shares in the last quarter. Finally, Spartan Wealth Advisory Services LLC acquired a new position in First Trust Municipal High Income ETF during the first quarter worth about $1,605,000.

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.