First Trust Mortgage Income Fund (NYSE:FMY) Short Interest Up 8.9% in March

First Trust Mortgage Income Fund (NYSE:FMY) was the target of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 9,800 shares, a growth of 8.9% from the March 15th total of 9,000 shares. Based on an average trading volume of 10,700 shares, the days-to-cover ratio is presently 0.9 days.

Hedge Funds Weigh In On First Trust Mortgage Income Fund

Several large investors have recently made changes to their positions in the business. UBS Group AG grew its holdings in First Trust Mortgage Income Fund by 223.2% during the 1st quarter. UBS Group AG now owns 3,852 shares of the company’s stock valued at $44,000 after buying an additional 2,660 shares in the last quarter. Advisor Group Holdings Inc. boosted its position in shares of First Trust Mortgage Income Fund by 16.8% during the first quarter. Advisor Group Holdings Inc. now owns 10,892 shares of the company’s stock worth $134,000 after acquiring an additional 1,567 shares during the last quarter. Transform Wealth LLC purchased a new position in First Trust Mortgage Income Fund during the third quarter valued at $130,000. Morgan Stanley increased its holdings in First Trust Mortgage Income Fund by 64.7% in the 4th quarter. Morgan Stanley now owns 11,901 shares of the company’s stock valued at $133,000 after acquiring an additional 4,674 shares during the last quarter. Finally, Susquehanna International Group LLP lifted its stake in First Trust Mortgage Income Fund by 21.7% in the 4th quarter. Susquehanna International Group LLP now owns 12,679 shares of the company’s stock worth $142,000 after purchasing an additional 2,258 shares in the last quarter.

First Trust Mortgage Income Fund Price Performance

Shares of NYSE:FMY remained flat at $11.62 during midday trading on Wednesday. The stock had a trading volume of 2,657 shares, compared to its average volume of 10,260. First Trust Mortgage Income Fund has a 52-week low of $10.71 and a 52-week high of $12.18. The business has a 50-day simple moving average of $11.88 and a two-hundred day simple moving average of $11.64.

First Trust Mortgage Income Fund Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd were paid a $0.0825 dividend. The ex-dividend date of this dividend was Monday, April 1st. This represents a $0.99 dividend on an annualized basis and a yield of 8.52%.

About First Trust Mortgage Income Fund

First Trust Mortgage Income Fund is a closed-ended fixed income mutual fund launched and managed by First Trust Advisors L.P. It is co-managed by Brookfield Investment Management Inc The fund invests in fixed income markets. It seeks to invest in fixed income securities including mortgage-backed securities, consisting of pass-through certificates, collateralized mortgage obligations, residential mortgage-backed securities, and commercial mortgage-backed securities.