First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) shares passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $3.97 and traded as high as $4.12. First Trust Specialty Finance and Financial Opportunities Fund shares last traded at $4.12, with a volume of 51,419 shares trading hands.

First Trust Specialty Finance and Financial Opportunities Fund Trading Down 0.4 %

The firm has a fifty day simple moving average of $3.97 and a 200-day simple moving average of $3.88.

First Trust Specialty Finance and Financial Opportunities Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 22nd were paid a $0.10 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.76%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC boosted its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 7.1% in the first quarter. Commonwealth Equity Services LLC now owns 158,660 shares of the closed-end fund’s stock worth $598,000 after purchasing an additional 10,506 shares during the period. Hartline Investment Corp bought a new stake in shares of First Trust Specialty Finance and Financial Opportunities Fund during the 1st quarter valued at about $46,000. Private Advisor Group LLC raised its stake in First Trust Specialty Finance and Financial Opportunities Fund by 26.0% during the first quarter. Private Advisor Group LLC now owns 337,075 shares of the closed-end fund’s stock worth $1,271,000 after acquiring an additional 69,550 shares during the period. Alpine Global Management LLC lifted its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 11.9% in the first quarter. Alpine Global Management LLC now owns 100,000 shares of the closed-end fund’s stock worth $377,000 after acquiring an additional 10,654 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in First Trust Specialty Finance and Financial Opportunities Fund in the first quarter valued at approximately $52,000.

About First Trust Specialty Finance and Financial Opportunities Fund

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.