**First Trust Flexible Municipal High Income ETF (MFLX) Declared Oversold**
On Friday, shares of the First Trust Flexible Municipal High Income ETF (MFLX) fell to $16.823 each, entering oversold territory as indicated by a Relative Strength Index (RSI) reading of 29.7. An RSI below 30 typically suggests heavy selling may be exhausting itself. In comparison, the S&P 500’s RSI stands at 54.2.
MFLX’s current price is near its 52-week low of $16.32, with a 52-week high of $17.95. As of the last trade, MFLX shares were down approximately 0.4% for the day. Investors may see this level as a potential buying opportunity as the stock shows signs of recovery following recent downward pressure.
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