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

First Trust Mortgage Income Fund (NYSE:FMY – Get Free Report) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 2,686 shares, a drop of 35.6% from the August 15th total of 4,171 shares. Based on an average trading volume of 3,989 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in First Trust Mortgage Income Fund stock. Sit Investment Associates Inc. raised its position in First Trust Mortgage Income Fund (NYSE:FMY – Free Report) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,297,106 shares of the company’s stock after acquiring an additional 31,512 shares during the quarter. Sit Investment Associates Inc.’s holdings in First Trust Mortgage Income Fund were worth $27,910,000 at the end of the most recent quarter.

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First Trust Mortgage Income Fund Stock Down 1.5%

Shares of FMY stock traded down $0.17 during trading on Friday, hitting $11.44. The company had a trading volume of 1,102 shares, compared to its average volume of 4,942. The stock’s 50-day moving average is $11.61 and its two-hundred day moving average is $11.72. First Trust Mortgage Income Fund has a 52 week low of $11.21 and a 52 week high of $12.36.

First Trust Mortgage Income Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.065 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a c) annualized dividend and a yield of 6.8%.

About First Trust Mortgage Income Fund

(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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