HighTower Advisors LLC has recently revealed a new addition to their investment portfolio, as they report a purchase of 42,000 shares of First Trust Municipal High Income ETF (NASDAQ:FMHI). The firm disclosed the acquisition with the Securities and Exchange Commission (SEC) in its most recent filing. The purchased shares amount to approximately $1,944,000, an impressive figure to add to the company’s growing investment portfolio. As of now, HighTower Advisors LLC owned around 0.63% of First Trust Municipal High Income ETF.
First Trust Municipal High Income ETF is a notable market player for investors interested in the municipal bond market. It allows investors exposure to high yield income earned on municipal bonds that are exempt from federal tax. This attraction towards the municipal bond market has led many institutional investors like HighTower Advisors LLC to be enticed.
Additionally, First Trust Municipal High Income ETF recently announced its monthly dividend on May 31st and set forward a substantial $0.1525 dividend per share with annualized dividends amounting to $1.83 per share with a dividend yield of 3.97%. Stockholders who had purchased shares before Wednesday, May 24th were given this generous payout. Nevertheless, even those who invested afterwards ought not take this as any indication that further opportunities for lucrative financial growth cannot still present themselves because there are always opportunities outside monthly dividend payouts.
Want to stay up-to-date about First Trust Municipal High Income ETF? Investors can follow news concerning both aforementioned fund via HoldingsChannel.com or monitor insider trades along with recent 13F filings regarding these securities. This information keeps investors well informed and helps them make sound decisions in their investments.
In summary, investing always carries some risk but handled responsibly it can lead to substantial monetary gain surrounding your assets without exposing you unduly exposed financially speaking against massive losses should the chosen stock drop precipitously in value overnight or otherwise incurs catastrophic economic damage. HighTower Advisors LLC’s latest strategic move of buying into First Trust Municipal High Income ETF may have just solidified a smart investment choice in their growing portfolio.
FMHI: The Municipal Bond ETF Attracting Institutional Investor Interest for High Income Generation
The world of investing can often be confusing and overwhelming, with different strategies and funds to choose from. One such fund that has recently caught the attention of several institutional investors and hedge funds is the First Trust Municipal High Income ETF (FMHI).
FMHI is an exchange-traded fund that is focused on investment grade fixed income, primarily consisting of US municipal bonds. Launched in November 2017, it is an actively managed fund that provides investors with a diversified portfolio aimed at generating high income.
Several institutional investors have taken notice of FMHI’s potential for growth and have increased their positions in recent quarters. Eudaimonia Advisors LLC increased its position by 8.4% during Q1, while Capital Investment Advisory Services LLC upped theirs by 1.7% in Q4. Insight Wealth Strategies LLC followed suit by increasing their position by 6.1%, and Hedeker Wealth LLC boosted their shares by 11%. Private Trust Co. NA also joined in, raising its position by a staggering 77.8% during the last quarter.
As of Thursday’s opening, FMHI was priced at $46.07 per share, with a range between its low of $44.09 and high of $49.49 per share over the past year alone. In terms of moving averages, FMHI has a fifty day average of $46.97 and a 200-day average of $46.93.
Overall, the recent surge in interest from institutional investors points to the potential that FMHI holds as an investment option for those seeking high income in relatively safe investments like bonds backed by municipalities across America – which can offer competitive yields when compared to more traditional corporate bonds or other types securities on the market today.. As always though it’s important to remember that any kind of investment carries risk which you should be aware about before considering any investments within your portfolio – so do exercise due diligence and consult with a financial advisor to make sure any given investment align with your goals tolerance for risk and overall portfolio strategy.
Discussion about this post