First Trust Mortgage Income Fund (NYSE:FMY) Short Interest Down 40.7% in June

First Trust Mortgage Income Fund (NYSE:FMY) saw a significant decline in short interest in June. As of June 30th, there was short interest totaling 5,618 shares, a decline of 40.7% from the June 15th total of 9,476 shares. Based on an average daily trading volume, of 3,459 shares, the short-interest ratio is presently 1.6 days.

First Trust Mortgage Income Fund Stock Down 0.3%

NYSE FMY traded down $0.04 during midday trading on Friday, hitting $11.64. 4,814 shares of the company traded hands, compared to its average volume of 5,453. The company’s 50-day simple moving average is $11.68 and its 200-day simple moving average is $11.89. First Trust Mortgage Income Fund has a 52 week low of $11.40 and a 52 week high of $12.39.

First Trust Mortgage Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a dividend of $0.065 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date was Wednesday, July 1st.

Hedge Funds Weigh In On First Trust Mortgage Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sit Investment Associates Inc. raised its holdings in First Trust Mortgage Income Fund by 1.4% in the fourth quarter. Sit Investment Associates Inc. now owns 2,297,106 shares of the company’s stock worth $27,910,000 after purchasing an additional 31,512 shares in the last quarter. Uhlmann Price Securities LLC grew its position 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 worth $288,000 after buying an additional 7,423 shares during the last quarter. Noble Wealth Management PBC raised its stake in shares of First Trust Mortgage Income Fund by 60.4% during the 4th quarter. Noble Wealth Management PBC now owns 46,681 shares of the company’s stock worth $567,000 after acquiring an additional 17,572 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of First Trust Mortgage Income Fund during the 2nd quarter worth approximately $31,000.

First Trust Mortgage Income Fund Company Profile

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.