Brown Advisory Inc. Cuts Stake in First Trust Municipal High Income ETF (NASDAQ:FMHI)

Brown Advisory Inc. reduced its stake in First Trust Municipal High Income ETF (NASDAQ:FMHI) by 38.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 8,199 shares of the company’s stock after selling 5,167 shares during the quarter. Brown Advisory Inc. owned 0.05% of First Trust Municipal High Income ETF worth $392,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FMHI. Creative Financial Designs Inc. ADV raised its stake in First Trust Municipal High Income ETF by 187.4% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 868 shares of the company’s stock valued at $42,000 after acquiring an additional 566 shares during the period. Coppell Advisory Solutions LLC increased its position in shares of First Trust Municipal High Income ETF by 180.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,293 shares of the company’s stock valued at $62,000 after buying an additional 832 shares during the period. Private Trust Co. NA increased its position in shares of First Trust Municipal High Income ETF by 5.5% during the first quarter. Private Trust Co. NA now owns 5,201 shares of the company’s stock valued at $249,000 after buying an additional 271 shares during the period. Baird Financial Group Inc. increased its position in shares of First Trust Municipal High Income ETF by 34.9% during the fourth quarter. Baird Financial Group Inc. now owns 5,800 shares of the company’s stock valued at $280,000 after buying an additional 1,500 shares during the period. Finally, Two Sigma Securities LLC bought a new stake in shares of First Trust Municipal High Income ETF during the fourth quarter valued at about $288,000.

First Trust Municipal High Income ETF Trading Down 0.2%

Shares of FMHI opened at $46.41 on Wednesday. The business’s 50-day moving average price is $46.66 and its 200-day moving average price is $47.45. First Trust Municipal High Income ETF has a twelve month low of $44.80 and a twelve month high of $49.51.

First Trust Municipal High Income ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 26th were issued a dividend of $0.166 per share. This is a positive change from First Trust Municipal High Income ETF’s previous monthly dividend of $0.17. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $1.99 annualized dividend and a dividend yield of 4.29%.

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.