First Trust Mortgage Income Fund (NYSE:FMY) Sees Large Growth in Short Interest

First Trust Mortgage Income Fund (NYSE:FMY) saw a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 12,500 shares, a growth of 21.4% from the January 31st total of 10,300 shares. Based on an average daily volume of 5,200 shares, the days-to-cover ratio is currently 2.4 days.

First Trust Mortgage Income Fund Stock Performance

FMY stock traded down $0.06 during trading on Thursday, hitting $12.04. 4,770 shares of the stock traded hands, compared to its average volume of 5,667. First Trust Mortgage Income Fund has a 1 year low of $11.48 and a 1 year high of $12.72. The firm’s 50 day moving average is $11.98 and its two-hundred day moving average is $12.14.

First Trust Mortgage Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.075 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 7.48%. The ex-dividend date of this dividend is Monday, March 3rd.

Institutional Trading of First Trust Mortgage Income Fund

Institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp boosted its holdings in shares of First Trust Mortgage Income Fund by 45.1% during the 4th quarter. Jones Financial Companies Lllp now owns 7,645 shares of the company’s stock valued at $92,000 after acquiring an additional 2,375 shares during the last quarter. Transform Wealth LLC purchased a new position in shares of First Trust Mortgage Income Fund in the fourth quarter worth approximately $279,000. Finally, Noble Wealth Management PBC purchased a new position in shares of First Trust Mortgage Income Fund in the fourth quarter worth approximately $460,000.

First Trust Mortgage Income Fund Company Profile

First Trust Mortgage Income Fund is a closed-ended fixed income mutual fund launched and managed by First Trust Advisors L.P. It is co-managed by Brookfield Investment Management Inc The fund invests in fixed income markets. It seeks to invest in fixed income securities including mortgage-backed securities, consisting of pass-through certificates, collateralized mortgage obligations, residential mortgage-backed securities, and commercial mortgage-backed securities.