Citigroup Inc. Raises Holdings in First Trust Municipal High Income ETF $FMHI

Citigroup Inc. boosted its stake in First Trust Municipal High Income ETF (NASDAQ:FMHI) by 6.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 424,426 shares of the company’s stock after buying an additional 26,438 shares during the quarter. Citigroup Inc. owned approximately 2.42% of First Trust Municipal High Income ETF worth $20,164,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. AQR Capital Management LLC purchased a new stake in shares of First Trust Municipal High Income ETF in the first quarter valued at $377,000. Envestnet Asset Management Inc. raised its stake in First Trust Municipal High Income ETF by 2.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 70,809 shares of the company’s stock valued at $3,307,000 after purchasing an additional 1,561 shares during the last quarter. Daymark Wealth Partners LLC acquired a new stake in shares of First Trust Municipal High Income ETF during the 2nd quarter worth about $2,222,000. Arbor Capital Management Inc. ADV grew its holdings in shares of First Trust Municipal High Income ETF by 3.4% during the second quarter. Arbor Capital Management Inc. ADV now owns 15,321 shares of the company’s stock worth $709,000 after buying an additional 499 shares in the last quarter. Finally, IFG Advisory LLC grew its holdings in shares of First Trust Municipal High Income ETF by 49.1% during the second quarter. IFG Advisory LLC now owns 17,223 shares of the company’s stock worth $804,000 after buying an additional 5,673 shares in the last quarter.

First Trust Municipal High Income ETF Stock Performance

Shares of NASDAQ FMHI opened at $48.59 on Friday. The firm’s 50 day moving average price is $48.14 and its 200 day moving average price is $47.73. First Trust Municipal High Income ETF has a 1 year low of $44.80 and a 1 year high of $49.05.

First Trust Municipal High Income ETF Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 20th will be issued a $0.175 dividend. This is a positive change from First Trust Municipal High Income ETF’s previous monthly dividend of $0.17. The ex-dividend date is Friday, February 20th. This represents a c) annualized dividend and a yield of 4.3%.

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.