Summit Wealth Partners LLC Reduces Stake in First Trust Municipal High Income ETF (NASDAQ:FMHI)

Summit Wealth Partners LLC cut its holdings in shares of First Trust Municipal High Income ETF (NASDAQ:FMHI) by 7.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,985 shares of the company’s stock after selling 863 shares during the quarter. Summit Wealth Partners LLC’s holdings in First Trust Municipal High Income ETF were worth $543,000 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. Envestnet Portfolio Solutions Inc. lifted its position in First Trust Municipal High Income ETF by 11.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 10,353 shares of the company’s stock valued at $500,000 after buying an additional 1,024 shares during the period. RFG Advisory LLC increased its stake in shares of First Trust Municipal High Income ETF by 55.7% in the 2nd quarter. RFG Advisory LLC now owns 29,089 shares of the company’s stock worth $1,406,000 after acquiring an additional 10,404 shares in the last quarter. Financial Partners Group Inc lifted its position in First Trust Municipal High Income ETF by 10.4% during the 2nd quarter. Financial Partners Group Inc now owns 219,361 shares of the company’s stock valued at $10,600,000 after acquiring an additional 20,649 shares during the period. Ameritas Advisory Services LLC lifted its position in First Trust Municipal High Income ETF by 6.7% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,615 shares of the company’s stock valued at $368,000 after acquiring an additional 480 shares during the period. Finally, Truist Financial Corp boosted its stake in First Trust Municipal High Income ETF by 1.8% during the second quarter. Truist Financial Corp now owns 13,605 shares of the company’s stock worth $657,000 after acquiring an additional 243 shares in the last quarter.

First Trust Municipal High Income ETF Stock Down 0.1 %

Shares of NASDAQ FMHI opened at $48.60 on Friday. The company has a 50 day simple moving average of $49.13 and a two-hundred day simple moving average of $48.60. First Trust Municipal High Income ETF has a fifty-two week low of $43.90 and a fifty-two week high of $49.51.

First Trust Municipal High Income ETF Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 22nd were paid a $0.163 dividend. The ex-dividend date was Tuesday, October 22nd. This represents a $1.96 annualized dividend and a dividend yield of 4.02%.

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.