First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Large Volume Increase – Time to Buy?

Shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) saw strong trading volume on Friday . Approximately 230,695 shares changed hands during 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.

First Trust Municipal High Income ETF Stock Down 0.4%

The stock has a 50 day moving average price of $48.11 and a 200 day moving average price of $48.10.

First Trust Municipal High Income ETF Announces Dividend

The company also recently announced a dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 21st were issued a $0.177 dividend. The ex-dividend date of this dividend was Tuesday, July 21st.

Hedge Funds Weigh In On First Trust Municipal High Income ETF

Large investors have recently bought and sold shares of the company. Glen Eagle Advisors LLC bought a new stake in shares of First Trust Municipal High Income ETF during the first quarter worth about $91,000. Camelot Portfolios LLC bought a new position in First Trust Municipal High Income ETF in the 4th quarter valued at approximately $96,000. Parallel Advisors LLC acquired a new stake in First Trust Municipal High Income ETF during the 1st quarter worth approximately $161,000. Western Wealth Management LLC acquired a new stake in First Trust Municipal High Income ETF during the 1st quarter worth approximately $162,000. Finally, Triumph Capital Management grew its holdings in First Trust Municipal High Income ETF by 152.1% during the 2nd quarter. Triumph Capital Management now owns 4,475 shares of the company’s stock worth $217,000 after acquiring an additional 2,700 shares during the last quarter.

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.