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

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

First Trust Mortgage Income Fund Price Performance

Shares of First Trust Mortgage Income Fund stock traded down $0.14 on Monday, hitting $11.58. The company’s stock had a trading volume of 4,791 shares, compared to its average volume of 6,172. First Trust Mortgage Income Fund has a 1 year low of $11.40 and a 1 year high of $12.39. The firm has a fifty day moving average price of $11.82 and a 200-day moving average price of $11.96.

First Trust Mortgage Income Fund Dividend Announcement

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

Hedge Funds Weigh In On First Trust Mortgage Income Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Sit Investment Associates Inc. increased its stake in shares of First Trust Mortgage Income Fund by 1.4% in 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 in the last quarter. Uhlmann Price Securities LLC increased its stake in shares of First Trust Mortgage Income Fund by 45.7% in 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 in the last quarter. Raymond James Financial Inc. purchased a new position in shares of First Trust Mortgage Income Fund in the 2nd quarter valued at about $31,000. Noble Wealth Management PBC increased its stake in shares of First Trust Mortgage Income Fund by 60.4% in 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 in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of First Trust Mortgage Income Fund by 29.4% in 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 in the last quarter.

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.