First Trust Mortgage Income Fund (NYSE:FMY) Short Interest Down 44.9% in February

First Trust Mortgage Income Fund (NYSE:FMY) saw a large drop in short interest in the month of February. As of February 13th, there was short interest totaling 4,549 shares, a drop of 44.9% from the January 29th total of 8,257 shares. Based on an average trading volume of 3,056 shares, the short-interest ratio is presently 1.5 days. Based on an average trading volume of 3,056 shares, the short-interest ratio is presently 1.5 days.

First Trust Mortgage Income Fund Stock Performance

NYSE FMY traded up $0.11 on Friday, reaching $12.28. The company’s stock had a trading volume of 8,016 shares, compared to its average volume of 5,216. First Trust Mortgage Income Fund has a 52 week low of $11.65 and a 52 week high of $12.39. The business has a 50-day moving average price of $12.14 and a 200 day moving average price of $12.13.

First Trust Mortgage Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a $0.065 dividend. This represents a c) annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Monday, March 2nd.

Hedge Funds Weigh In On First Trust Mortgage Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sit Investment Associates Inc. boosted its stake in First Trust Mortgage Income Fund by 1.4% in the 4th quarter. Sit Investment Associates Inc. now owns 2,297,106 shares of the company’s stock valued at $27,910,000 after buying an additional 31,512 shares in the last quarter. Noble Wealth Management PBC raised its stake in First Trust Mortgage Income Fund by 60.4% during the fourth quarter. Noble Wealth Management PBC now owns 46,681 shares of the company’s stock worth $567,000 after acquiring an additional 17,572 shares in the last quarter. Uhlmann Price Securities LLC lifted its holdings in shares of First Trust Mortgage Income Fund by 45.7% during the fourth quarter. Uhlmann Price Securities LLC now owns 23,674 shares of the company’s stock valued at $288,000 after acquiring an additional 7,423 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of First Trust Mortgage Income Fund by 29.4% during the third quarter. Jones Financial Companies Lllp now owns 18,267 shares of the company’s stock valued at $223,000 after acquiring an additional 4,154 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of First Trust Mortgage Income Fund in the 2nd quarter valued at $31,000.

First Trust Mortgage Income Fund Company Profile

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.