First Trust Mortgage Income Fund (NYSE:FMY) Stock Short Interest Climbs 87.0%

First Trust Mortgage Income Fund (NYSE:FMY) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 5,022 shares, an increase of 87.0% from the August 31st total of 2,686 shares. Based on an average daily trading volume, of 3,528 shares, the short-interest ratio is currently 1.4 days.

First Trust Mortgage Income Fund Trading Up 0.7%

Shares of NYSE FMY traded up $0.07 during midday trading on Wednesday, hitting $11.21. The company’s stock had a trading volume of 2,812 shares, compared to its average volume of 4,901. The business’s fifty day simple moving average is $11.55 and its two-hundred day simple moving average is $11.69. First Trust Mortgage Income Fund has a 1 year low of $10.74 and a 1 year high of $12.36.

First Trust Mortgage Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be paid a dividend of $0.0650 per share. The ex-dividend date is Thursday, October 1st. This represents a $0.78 dividend on an annualized basis and a dividend yield of 7.0%.

Institutional Investors Weigh In On First Trust Mortgage Income Fund

A hedge fund recently raised its stake in First Trust Mortgage Income Fund stock. Sit Investment Associates Inc. increased its position in First Trust Mortgage Income Fund (NYSE:FMY) by 1.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,297,106 shares of the company’s stock after purchasing an additional 31,512 shares during the period. Sit Investment Associates Inc.’s holdings in First Trust Mortgage Income Fund were worth $27,910,000 at the end of the most recent quarter.

First Trust Mortgage Income Fund Company Profile

First Trust Mortgage Income Fund (NYSE: FMY) is a closed-end investment company that seeks to provide investors with a high level of current income, with capital appreciation as a secondary objective. The fund invests primarily in mortgage-related securities and other fixed-income investments.

Its portfolio may include mortgage-backed securities issued or guaranteed by government-sponsored entities, as well as non-agency mortgage-backed securities and other securities connected to residential or commercial real estate.