Cornerstone Wealth Management LLC Buys 2,366 Shares of First Trust Municipal High Income ETF (NASDAQ:FMHI)

Cornerstone Wealth Management LLC lifted its stake in shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) by 3.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,318 shares of the company’s stock after purchasing an additional 2,366 shares during the period. Cornerstone Wealth Management LLC owned approximately 0.51% of First Trust Municipal High Income ETF worth $3,099,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Principal Securities Inc. acquired a new position in First Trust Municipal High Income ETF during the 4th quarter worth $48,000. Creekmur Asset Management LLC acquired a new position in shares of First Trust Municipal High Income ETF during the fourth quarter valued at $53,000. Westside Investment Management Inc. boosted its holdings in First Trust Municipal High Income ETF by 66.7% in the first quarter. Westside Investment Management Inc. now owns 2,500 shares of the company’s stock valued at $120,000 after acquiring an additional 1,000 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in First Trust Municipal High Income ETF in the fourth quarter valued at about $200,000. Finally, Key Financial Inc acquired a new stake in First Trust Municipal High Income ETF in the fourth quarter worth about $209,000.

First Trust Municipal High Income ETF Stock Performance

First Trust Municipal High Income ETF stock traded up $0.20 during trading hours on Thursday, reaching $48.52. 24,132 shares of the company’s stock traded hands, compared to its average volume of 63,517. First Trust Municipal High Income ETF has a fifty-two week low of $43.88 and a fifty-two week high of $48.71. The firm’s 50 day moving average is $48.07 and its 200-day moving average is $47.89.

First Trust Municipal High Income ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 27th were paid a dividend of $0.163 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.03%. This is an increase from First Trust Municipal High Income ETF’s previous monthly dividend of $0.16. The ex-dividend date was Thursday, June 27th.

First Trust Municipal High Income ETF 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.