First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Short Interest Up 171.2% in February

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 14,100 shares, an increase of 171.2% from the February 13th total of 5,200 shares. Based on an average trading volume of 36,900 shares, the days-to-cover ratio is currently 0.4 days.

First Trust Specialty Finance and Financial Opportunities Fund Price Performance

FGB traded up $0.03 during midday trading on Friday, hitting $4.15. 14,363 shares of the company’s stock traded hands, compared to its average volume of 48,639. The stock’s fifty day simple moving average is $4.38 and its 200-day simple moving average is $4.22. First Trust Specialty Finance and Financial Opportunities Fund has a one year low of $3.49 and a one year high of $4.64.

First Trust Specialty Finance and Financial Opportunities Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 24th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.40 annualized dividend and a yield of 9.64%.

Hedge Funds Weigh In On First Trust Specialty Finance and Financial Opportunities Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CSS LLC IL grew its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 357.9% during the fourth quarter. CSS LLC IL now owns 58,141 shares of the closed-end fund’s stock valued at $245,000 after purchasing an additional 45,444 shares during the last quarter. Citadel Advisors LLC acquired a new position in First Trust Specialty Finance and Financial Opportunities Fund during the fourth quarter valued at approximately $99,000. CF Capital LLC acquired a new position in First Trust Specialty Finance and Financial Opportunities Fund during the fourth quarter valued at approximately $756,000. Almitas Capital LLC grew its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 18.8% during the fourth quarter. Almitas Capital LLC now owns 213,162 shares of the closed-end fund’s stock valued at $897,000 after purchasing an additional 33,676 shares during the last quarter. Finally, Quarry LP acquired a new position in First Trust Specialty Finance and Financial Opportunities Fund during the fourth quarter valued at approximately $86,000.

First Trust Specialty Finance and Financial Opportunities Fund Company Profile

First Trust Specialty Finance and Financial Opportunities Fund is a closed-ended equity mutual fund launched and managed by First Trust Advisors L.P. It is co-managed by Confluence Investment Management LLC. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating in the specialty finance and other financial sectors.