Short Interest in First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Increases By 40.4%

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 75,100 shares, a growth of 40.4% from the July 15th total of 53,500 shares. Based on an average daily volume of 45,400 shares, the short-interest ratio is currently 1.7 days.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC increased its stake in First Trust Specialty Finance and Financial Opportunities Fund by 9.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 173,378 shares of the closed-end fund’s stock worth $674,000 after buying an additional 14,718 shares during the period. Shaker Financial Services LLC acquired a new stake in First Trust Specialty Finance and Financial Opportunities Fund in the 2nd quarter valued at about $52,000. Atomi Financial Group Inc. purchased a new position in shares of First Trust Specialty Finance and Financial Opportunities Fund in the 2nd quarter valued at about $372,000. Virtu Financial LLC acquired a new stake in First Trust Specialty Finance and Financial Opportunities Fund in the first quarter valued at approximately $52,000. Finally, Alpine Global Management LLC raised its holdings in shares of First Trust Specialty Finance and Financial Opportunities Fund by 11.9% in the 1st quarter. Alpine Global Management LLC now owns 100,000 shares of the closed-end fund’s stock valued at $377,000 after purchasing an additional 10,654 shares in the last quarter.

First Trust Specialty Finance and Financial Opportunities Fund Stock Down 0.5 %

Shares of First Trust Specialty Finance and Financial Opportunities Fund stock traded down $0.02 on Thursday, reaching $3.88. The company’s stock had a trading volume of 1,446 shares, compared to its average volume of 50,384. First Trust Specialty Finance and Financial Opportunities Fund has a 52-week low of $2.98 and a 52-week high of $4.10. The stock has a 50-day moving average price of $3.91 and a 200-day moving average price of $3.76.

First Trust Specialty Finance and Financial Opportunities Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.31%. The ex-dividend date is Thursday, August 22nd.

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.