First Trust Municipal High Income ETF (NASDAQ:FMHI) Reaches New 1-Year Low – Should You Sell?

Shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) hit a new 52-week low on Tuesday. The stock traded as low as $44.57 and last traded at $44.69, with a volume of 392342 shares changing hands. The stock had previously closed at $45.18.

First Trust Municipal High Income ETF Price Performance

The stock’s fifty day moving average is $46.95 and its 200-day moving average is $47.70.

First Trust Municipal High Income ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were paid a $0.1790 dividend. This is a positive change from First Trust Municipal High Income ETF’s previous monthly dividend of $0.1780. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $2.15 annualized dividend and a dividend yield of 4.8%.

Institutional Trading of First Trust Municipal High Income ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in FMHI. Concurrent Investment Advisors LLC grew its position in First Trust Municipal High Income ETF by 112.9% in the second quarter. Concurrent Investment Advisors LLC now owns 33,984 shares of the company’s stock worth $1,648,000 after acquiring an additional 18,020 shares during the period. Spartan Wealth Advisory Services LLC purchased a new stake in First Trust Municipal High Income ETF in the first quarter valued at $1,605,000. Bank of America Corp DE raised its position in First Trust Municipal High Income ETF by 23.7% in the first quarter. Bank of America Corp DE now owns 798,920 shares of the company’s stock valued at $37,981,000 after purchasing an additional 153,170 shares during the period. Allworth Financial LP acquired a new position in shares of First Trust Municipal High Income ETF in the 2nd quarter valued at $557,000. Finally, NewEdge Advisors LLC lifted its stake in shares of First Trust Municipal High Income ETF by 10.2% in the 2nd quarter. NewEdge Advisors LLC now owns 296,778 shares of the company’s stock valued at $14,391,000 after purchasing an additional 27,555 shares during the last quarter.

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.