Hughes Financial Services LLC Cuts Position in First Trust Municipal High Income ETF $FMHI

Hughes Financial Services LLC reduced its stake in shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) by 97.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,445 shares of the company’s stock after selling 94,090 shares during the quarter. Hughes Financial Services LLC’s holdings in First Trust Municipal High Income ETF were worth $113,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AE Wealth Management LLC lifted its position in shares of First Trust Municipal High Income ETF by 28.7% during the second quarter. AE Wealth Management LLC now owns 7,735 shares of the company’s stock valued at $361,000 after buying an additional 1,726 shares during the last quarter. IFG Advisory LLC boosted its holdings in First Trust Municipal High Income ETF by 49.1% in the second quarter. IFG Advisory LLC now owns 17,223 shares of the company’s stock worth $804,000 after acquiring an additional 5,673 shares in the last quarter. Arbor Capital Management Inc. ADV boosted its stake in First Trust Municipal High Income ETF by 3.4% in the 2nd quarter. Arbor Capital Management Inc. ADV now owns 15,321 shares of the company’s stock worth $709,000 after purchasing an additional 499 shares in the last quarter. Daymark Wealth Partners LLC acquired a new position in First Trust Municipal High Income ETF during the 2nd quarter valued at approximately $2,222,000. Finally, Envestnet Asset Management Inc. raised its holdings in shares of First Trust Municipal High Income ETF by 2.3% in the second quarter. Envestnet Asset Management Inc. now owns 70,809 shares of the company’s stock worth $3,307,000 after buying an additional 1,561 shares during the last quarter.

First Trust Municipal High Income ETF Stock Up 0.1%

Shares of FMHI opened at $48.04 on Monday. The stock has a 50-day moving average of $47.64 and a two-hundred day moving average of $46.91. First Trust Municipal High Income ETF has a one year low of $44.80 and a one year high of $49.40.

First Trust Municipal High Income ETF Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, October 21st were issued a dividend of $0.169 per share. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Tuesday, October 21st.

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.