Short Interest in First Trust Mortgage Income Fund (NYSE:FMY) Declines By 40.7%

First Trust Mortgage Income Fund (NYSE:FMY – Get Free Report) was the target of a large drop in short interest in 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 trading volume of 3,459 shares, the short-interest ratio is presently 1.6 days.

First Trust Mortgage Income Fund Stock Performance

Shares of NYSE:FMY traded down $0.04 during midday trading on Friday, hitting $11.64. 4,814 shares of the company’s stock traded hands, compared to its average volume of 5,453. The firm’s fifty day moving average price is $11.67 and its two-hundred day moving average price is $11.89. First Trust Mortgage Income Fund has a twelve month low of $11.40 and a twelve month high of $12.39.

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First Trust Mortgage Income Fund Dividend Announcement

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

Institutional Investors Weigh In On First Trust Mortgage Income Fund

Several institutional investors and hedge funds have recently modified their holdings of FMY. Sit Investment Associates Inc. grew its stake in shares of First Trust Mortgage Income Fund by 1.4% in the fourth 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. Uhlmann Price Securities LLC lifted its position in First Trust Mortgage Income Fund by 45.7% during the 4th 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. Noble Wealth Management PBC boosted its holdings in First Trust Mortgage Income Fund by 60.4% in the 4th 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 during the period. Finally, Raymond James Financial Inc. purchased a new position in First Trust Mortgage Income Fund in the 2nd quarter worth approximately $31,000.

First Trust Mortgage Income Fund Company Profile

(Get Free Report)

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.

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