First Trust Mortgage Income Fund (NYSE:FMY) Short Interest Update

First Trust Mortgage Income Fund (NYSE:FMY) saw a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 5,618 shares, a drop of 40.7% from the June 15th total of 9,476 shares. Based on an average daily volume of 3,459 shares, the short-interest ratio is presently 1.6 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in shares of First Trust Mortgage Income Fund during the 2nd quarter worth approximately $31,000. Noble Wealth Management PBC increased its holdings 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 buying an additional 17,572 shares during the last quarter. Uhlmann Price Securities LLC raised its position in 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 worth $288,000 after acquiring an additional 7,423 shares in the last quarter. Finally, Sit Investment Associates Inc. raised its position in First Trust Mortgage Income Fund by 1.4% during the fourth quarter. Sit Investment Associates Inc. now owns 2,297,106 shares of the company’s stock worth $27,910,000 after acquiring an additional 31,512 shares in the last quarter.

First Trust Mortgage Income Fund Stock Performance

FMY traded up $0.10 during trading hours on Thursday, hitting $11.67. 2,408 shares of the company’s stock were exchanged, compared to its average volume of 5,443. The stock’s 50-day moving average is $11.68 and its two-hundred day moving average is $11.90. First Trust Mortgage Income Fund has a 1-year low of $11.40 and a 1-year high of $12.39.

First Trust Mortgage Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a dividend of $0.065 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a c) annualized dividend and a yield of 6.7%.

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.