First Trust Mortgage Income Fund (NYSE:FMY) Stock Price Down 0.7% – Here’s What Happened

First Trust Mortgage Income Fund (NYSE:FMY) shares dropped 0.7% on Friday . The stock traded as low as $11.35 and last traded at $11.3840. Approximately 2,238 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 4,996 shares. The stock had previously closed at $11.47.

First Trust Mortgage Income Fund Stock Performance

The company’s 50-day simple moving average is $11.63 and its 200 day simple moving average is $11.74.

First Trust Mortgage Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.065 per share. This represents a c) annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Tuesday, September 1st.

Institutional Investors Weigh In On First Trust Mortgage Income Fund

A hedge fund recently bought a new stake in First Trust Mortgage Income Fund stock. Raymond James Financial Inc. bought a new position in First Trust Mortgage Income Fund (NYSE:FMY) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 2,547 shares of the company’s stock, valued at approximately $31,000.

About First Trust Mortgage Income Fund

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.