Sowell Financial Services LLC Purchases New Position in First Trust Municipal High Income ETF (NASDAQ:FMHI)

Sowell Financial Services LLC bought a new position in First Trust Municipal High Income ETF (NASDAQ:FMHI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 31,400 shares of the company’s stock, valued at approximately $1,516,000. Sowell Financial Services LLC owned about 0.20% of First Trust Municipal High Income ETF at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in shares of First Trust Municipal High Income ETF during the fourth quarter worth approximately $17,256,000. Financial Partners Group Inc raised its stake in shares of First Trust Municipal High Income ETF by 3.9% during the fourth quarter. Financial Partners Group Inc now owns 244,826 shares of the company’s stock worth $11,823,000 after buying an additional 9,180 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of First Trust Municipal High Income ETF by 186.1% during the third quarter. HighTower Advisors LLC now owns 172,366 shares of the company’s stock worth $8,513,000 after buying an additional 112,110 shares during the last quarter. Atlas Private Wealth Advisors raised its stake in shares of First Trust Municipal High Income ETF by 6.6% during the fourth quarter. Atlas Private Wealth Advisors now owns 169,954 shares of the company’s stock worth $8,207,000 after buying an additional 10,463 shares during the last quarter. Finally, EnRich Financial Partners LLC raised its stake in shares of First Trust Municipal High Income ETF by 5.3% during the third quarter. EnRich Financial Partners LLC now owns 139,912 shares of the company’s stock worth $6,912,000 after buying an additional 6,990 shares during the last quarter.

First Trust Municipal High Income ETF Stock Performance

Shares of NASDAQ FMHI opened at $48.64 on Tuesday. The firm has a 50 day moving average price of $48.43 and a 200 day moving average price of $48.76. First Trust Municipal High Income ETF has a 52-week low of $47.33 and a 52-week high of $49.51.

First Trust Municipal High Income ETF Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were issued a dividend of $0.163 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend was Friday, February 21st.

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.