First Trust Mortgage Income Fund (NYSE:FMY) Stock Price Breaks Above 50 Day Moving Average – Here’s Why

Shares of First Trust Mortgage Income Fund (NYSE:FMY) passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $11.29 and traded as high as $11.40. First Trust Mortgage Income Fund shares last traded at $11.2980, with a volume of 2,760 shares trading hands.

First Trust Mortgage Income Fund Price Performance

The company’s 50-day moving average price is $11.29 and its 200 day moving average price is $11.68.

First Trust Mortgage Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be paid a $0.0650 dividend. This represents a $0.78 annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Monday, November 2nd.

Institutional Trading of First Trust Mortgage Income Fund

A hedge fund recently bought a new position in First Trust Mortgage Income Fund stock. Narwhal Capital Management bought a new position in First Trust Mortgage Income Fund (NYSE:FMY) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 19,444 shares of the company’s stock, valued at approximately $216,000.

First Trust Mortgage Income Fund Company Profile

First Trust Mortgage Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol FMY. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective, by investing primarily in mortgage-related securities.

Its portfolio may include residential mortgage-backed securities, commercial mortgage-backed securities, mortgage derivatives and other debt instruments issued or backed by government agencies, government-sponsored enterprises and private entities.