First Trust Mortgage Income Fund (NYSE:FMY) Shares Up 0.7% – Here’s What Happened

First Trust Mortgage Income Fund (NYSE:FMY)’s stock price was up 0.7% during mid-day trading on Friday . The stock traded as high as $11.77 and last traded at $11.7150. Approximately 1,119 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 5,554 shares. The stock had previously closed at $11.63.

First Trust Mortgage Income Fund Trading Up 0.7%

The business’s 50 day moving average is $11.70 and its two-hundred day moving average is $11.90.

First Trust Mortgage Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a c) annualized dividend and a yield of 6.7%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sit Investment Associates Inc. increased its stake in shares of First Trust Mortgage Income Fund by 1.4% during the fourth quarter. Sit Investment Associates Inc. now owns 2,297,106 shares of the company’s stock valued at $27,910,000 after acquiring an additional 31,512 shares during the period. Raymond James Financial Inc. bought a new stake in First Trust Mortgage Income Fund during the second quarter worth approximately $31,000. Uhlmann Price Securities LLC boosted its stake in 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 purchasing an additional 7,423 shares in the last quarter. Finally, Noble Wealth Management PBC boosted its stake in 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 purchasing an additional 17,572 shares in the last quarter.

First Trust Mortgage Income Fund Company Profile

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.