First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Short Interest Update

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) was the target of a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 5,200 shares, a decline of 38.1% from the January 31st total of 8,400 shares. Based on an average trading volume of 36,900 shares, the days-to-cover ratio is presently 0.1 days.

First Trust Specialty Finance and Financial Opportunities Fund Stock Up 0.8 %

First Trust Specialty Finance and Financial Opportunities Fund stock traded up $0.04 during trading hours on Monday, hitting $4.45. The company had a trading volume of 36,858 shares, compared to its average volume of 48,973. First Trust Specialty Finance and Financial Opportunities Fund has a fifty-two week low of $3.49 and a fifty-two week high of $4.64. The firm’s fifty day moving average is $4.38 and its 200-day moving average is $4.20.

First Trust Specialty Finance and Financial Opportunities Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders 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 dividend yield of 9.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Shaker Financial Services LLC increased its stake in shares of First Trust Specialty Finance and Financial Opportunities Fund by 212.2% in the 3rd quarter. Shaker Financial Services LLC now owns 41,538 shares of the closed-end fund’s stock valued at $169,000 after buying an additional 28,234 shares during the period. L.M. Kohn & Company acquired a new stake in First Trust Specialty Finance and Financial Opportunities Fund in the 3rd quarter valued at approximately $48,000. Rivernorth Capital Management LLC grew its holdings in shares of First Trust Specialty Finance and Financial Opportunities Fund by 81.8% in the 3rd quarter. Rivernorth Capital Management LLC now owns 384,102 shares of the closed-end fund’s stock valued at $1,563,000 after acquiring an additional 172,880 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of First Trust Specialty Finance and Financial Opportunities Fund during the 3rd quarter worth approximately $48,000. Finally, Atomi Financial Group Inc. increased its stake in shares of First Trust Specialty Finance and Financial Opportunities Fund by 6.4% during the 4th quarter. Atomi Financial Group Inc. now owns 114,888 shares of the closed-end fund’s stock worth $484,000 after purchasing an additional 6,890 shares during the last quarter.

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.