First Trust Mortgage Income Fund (NYSE:FMY) Short Interest Down 29.6% in February

by · The Cerbat Gem

First Trust Mortgage Income Fund (NYSE:FMY – Get Free Report) saw a large decrease in short interest in February. As of February 27th, there was short interest totaling 3,202 shares, a decrease of 29.6% from the February 12th total of 4,549 shares. Based on an average daily trading volume, of 4,998 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily trading volume, of 4,998 shares, the days-to-cover ratio is currently 0.6 days.

Hedge Funds Weigh In On First Trust Mortgage Income Fund

A number of institutional investors have recently bought and sold shares of FMY. Sit Investment Associates Inc. grew 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 buying an additional 31,512 shares during the period. Noble Wealth Management PBC raised its position 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 valued at $567,000 after buying an additional 17,572 shares during the period. Uhlmann Price Securities LLC raised its position in shares of First Trust Mortgage Income Fund by 45.7% during the 4th quarter. Uhlmann Price Securities LLC now owns 23,674 shares of the company’s stock valued at $288,000 after buying an additional 7,423 shares during the period. Jones Financial Companies Lllp lifted its holdings in First Trust Mortgage Income Fund by 29.4% in the third quarter. Jones Financial Companies Lllp now owns 18,267 shares of the company’s stock valued at $223,000 after acquiring an additional 4,154 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in First Trust Mortgage Income Fund in the second quarter valued at approximately $31,000.

First Trust Mortgage Income Fund Stock Down 2.6%

Shares of NYSE FMY traded down $0.30 during trading on Friday, hitting $11.40. 32,258 shares of the company were exchanged, compared to its average volume of 8,038. First Trust Mortgage Income Fund has a 12-month low of $11.40 and a 12-month high of $12.39. The company has a fifty day moving average price of $12.09 and a 200-day moving average price of $12.11.

First Trust Mortgage Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.065 per share. This represents a c) annualized dividend and a yield of 6.8%. The ex-dividend date is Monday, March 2nd.

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.

See Also