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

First Trust Mortgage Income Fund (NYSE:FMY) saw a significant decrease in short interest in the month of May. As of May 15th, there was short interest totaling 4,567 shares, a decrease of 53.8% from the April 30th total of 9,876 shares. Based on an average daily trading volume, of 4,019 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Trading of First Trust Mortgage Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in First Trust Mortgage Income Fund during the 2nd quarter valued at approximately $31,000. Jones Financial Companies Lllp increased its position in First Trust Mortgage Income Fund by 29.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 18,267 shares of the company’s stock valued at $223,000 after purchasing an additional 4,154 shares during the period. Uhlmann Price Securities LLC increased 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 valued at $288,000 after purchasing an additional 7,423 shares during the period. Noble Wealth Management PBC increased its position in First Trust Mortgage Income Fund by 60.4% during the 4th quarter. Noble Wealth Management PBC now owns 46,681 shares of the company’s stock valued at $567,000 after purchasing an additional 17,572 shares during the period. Finally, Sit Investment Associates Inc. increased its position in First Trust Mortgage Income Fund by 1.4% during the 4th quarter. Sit Investment Associates Inc. now owns 2,297,106 shares of the company’s stock valued at $27,910,000 after purchasing an additional 31,512 shares during the period.

First Trust Mortgage Income Fund Stock Performance

Shares of First Trust Mortgage Income Fund stock traded up $0.04 on Friday, hitting $11.70. The stock had a trading volume of 3,534 shares, compared to its average volume of 6,186. First Trust Mortgage Income Fund has a twelve month low of $11.40 and a twelve month high of $12.39. The stock has a 50 day moving average of $11.82 and a 200 day moving average of $11.97.

First Trust Mortgage Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.065 dividend. This represents a c) dividend on an annualized basis and a yield of 6.7%. The ex-dividend date is Monday, June 1st.

First Trust Mortgage Income Fund Company Profile

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.