First Trust Mortgage Income Fund (NYSE:FMY) Shares Up 1.1% – What’s Next?

by · The Markets Daily

First Trust Mortgage Income Fund (NYSE:FMY – Get Free Report)’s stock price traded up 1.1% on Tuesday . The stock traded as high as $11.66 and last traded at $11.68. 3,695 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 5,233 shares. The stock had previously closed at $11.55.

First Trust Mortgage Income Fund Trading Up 1.1%

The stock’s 50-day simple moving average is $11.66 and its 200-day simple moving average is $11.82.

First Trust Mortgage Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 3rd will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%.

Hedge Funds 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. boosted its stake in First Trust Mortgage Income Fund (NYSE:FMY – Free Report) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,297,106 shares of the company’s stock after buying 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 reporting period.

About First Trust Mortgage Income Fund

(Get Free Report)

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.

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