First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Short Interest Up 15.5% in May

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGBGet Free Report) was the target of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 64,200 shares, a growth of 15.5% from the May 15th total of 55,600 shares. Based on an average daily trading volume, of 55,600 shares, the short-interest ratio is presently 1.2 days.

Institutional Investors Weigh In On First Trust Specialty Finance and Financial Opportunities Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC raised its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 7.1% during the first quarter. Commonwealth Equity Services LLC now owns 158,660 shares of the closed-end fund’s stock worth $598,000 after purchasing an additional 10,506 shares in the last quarter. Private Advisor Group LLC raised its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 26.0% during the first quarter. Private Advisor Group LLC now owns 337,075 shares of the closed-end fund’s stock worth $1,271,000 after purchasing an additional 69,550 shares in the last quarter. Hartline Investment Corp purchased a new position in First Trust Specialty Finance and Financial Opportunities Fund during the first quarter worth about $46,000. L.M. Kohn & Company purchased a new position in First Trust Specialty Finance and Financial Opportunities Fund during the fourth quarter worth about $42,000. Finally, Blue Bell Private Wealth Management LLC raised its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 147.9% during the first quarter. Blue Bell Private Wealth Management LLC now owns 9,087 shares of the closed-end fund’s stock worth $34,000 after purchasing an additional 5,421 shares in the last quarter.

First Trust Specialty Finance and Financial Opportunities Fund Stock Up 1.1 %

Shares of NYSE:FGB opened at $3.83 on Tuesday. The company has a 50-day simple moving average of $3.77 and a 200-day simple moving average of $3.64. First Trust Specialty Finance and Financial Opportunities Fund has a one year low of $2.98 and a one year high of $3.96.

First Trust Specialty Finance and Financial Opportunities Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Thursday, May 23rd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.44%. This is a boost from First Trust Specialty Finance and Financial Opportunities Fund’s previous quarterly dividend of $0.08. The ex-dividend date was Wednesday, May 22nd.

First Trust Specialty Finance and Financial Opportunities Fund Company Profile

(Get Free Report)

First Trust Specialty Finance and Financial Opportunities Fund is a closed-ended equity mutual fund launched and managed by First Trust Advisors L.P. It is co-managed by Confluence Investment Management LLC. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating in the specialty finance and other financial sectors.

Further Reading

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