First Trust Municipal High Income ETF (NASDAQ:FMHI) Reaches New 1-Year High at $48.71

First Trust Municipal High Income ETF (NASDAQ:FMHI) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $48.71 and last traded at $48.71, with a volume of 944 shares. The stock had previously closed at $48.59.

First Trust Municipal High Income ETF Price Performance

The company has a fifty day moving average price of $47.94 and a two-hundred day moving average price of $47.83.

First Trust Municipal High Income ETF Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 22nd were given a dividend of $0.159 per share. This represents a $1.91 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend was Tuesday, May 21st.

Institutional Investors Weigh In On First Trust Municipal High Income ETF

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN grew its holdings in First Trust Municipal High Income ETF by 145.2% during the 4th quarter. Wells Fargo & Company MN now owns 406,752 shares of the company’s stock valued at $19,394,000 after buying an additional 240,894 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in First Trust Municipal High Income ETF during the 4th quarter valued at $8,659,000. Principle Wealth Partners LLC purchased a new position in shares of First Trust Municipal High Income ETF during the 4th quarter worth $8,072,000. Crumly & Associates Inc. lifted its stake in shares of First Trust Municipal High Income ETF by 259.6% during the 4th quarter. Crumly & Associates Inc. now owns 207,661 shares of the company’s stock worth $9,901,000 after purchasing an additional 149,917 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of First Trust Municipal High Income ETF by 585.7% during the 1st quarter. Cetera Investment Advisers now owns 145,955 shares of the company’s stock worth $7,032,000 after purchasing an additional 124,671 shares during the period.

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.