First Trust Mortgage Income Fund (NYSE:FMY) Shares Down 0.7% – Here’s What Happened

First Trust Mortgage Income Fund (NYSE:FMY)’s share price dropped 0.7% during mid-day trading on Friday . The stock traded as low as $11.35 and last traded at $11.3840. 2,238 shares were traded during mid-day trading, a decline of 55% from the average session volume of 4,996 shares. The stock had previously closed at $11.47.

First Trust Mortgage Income Fund Trading Down 0.7%

The firm’s fifty day simple moving average is $11.63 and its two-hundred day simple moving average is $11.74.

First Trust Mortgage Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.065 per share. This represents a c) annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Tuesday, September 1st.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in First Trust Mortgage Income Fund stock. Raymond James Financial Inc. purchased a new position in First Trust Mortgage Income Fund (NYSE:FMY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,547 shares of the company’s stock, valued at approximately $31,000.

About First Trust Mortgage Income Fund

First Trust Mortgage Income Fund (NYSE:FMY) is a closed-end management investment company that seeks to provide high current income by investing primarily in a diversified portfolio of mortgage-related securities. The fund’s investment strategy focuses on residential and commercial mortgage-backed securities (MBS) issued or guaranteed by U.S. government agencies, government-sponsored entities and private issuers, as well as other mortgage-related assets such as collateralized mortgage obligations (CMOs) and mortgage passthrough securities.

Since commencing operations in mid-2002, FMY has employed a disciplined, fundamental research process to construct a portfolio designed to capture income opportunities across the U.S.