Short Interest in First Trust Mortgage Income Fund (NYSE:FMY) Rises By 37.8%

First Trust Mortgage Income Fund (NYSE:FMY) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 17,500 shares, a growth of 37.8% from the February 28th total of 12,700 shares. Based on an average daily volume of 5,200 shares, the days-to-cover ratio is currently 3.4 days.

Institutional Trading of First Trust Mortgage Income Fund

Hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp lifted its stake in First Trust Mortgage Income Fund by 45.1% during the fourth quarter. Jones Financial Companies Lllp now owns 7,645 shares of the company’s stock worth $92,000 after purchasing an additional 2,375 shares during the last quarter. Noble Wealth Management PBC bought a new position in shares of First Trust Mortgage Income Fund during the 4th quarter valued at about $460,000. Finally, Transform Wealth LLC purchased a new position in shares of First Trust Mortgage Income Fund during the 4th quarter valued at about $279,000.

First Trust Mortgage Income Fund Stock Down 0.3 %

Shares of FMY stock traded down $0.04 during trading on Tuesday, hitting $12.18. The company had a trading volume of 1,272 shares, compared to its average volume of 7,314. First Trust Mortgage Income Fund has a 52 week low of $11.48 and a 52 week high of $12.72. The stock’s 50-day moving average is $12.08 and its two-hundred day moving average is $12.10.

First Trust Mortgage Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.075 per share. This represents a $0.90 annualized dividend and a dividend yield of 7.39%. The ex-dividend date is Tuesday, April 1st.

First Trust Mortgage Income Fund Company Profile

First Trust Mortgage Income Fund is a closed-ended fixed income mutual fund launched and managed by First Trust Advisors L.P. It is co-managed by Brookfield Investment Management Inc The fund invests in fixed income markets. It seeks to invest in fixed income securities including mortgage-backed securities, consisting of pass-through certificates, collateralized mortgage obligations, residential mortgage-backed securities, and commercial mortgage-backed securities.