Short Interest in First Trust Mortgage Income Fund (NYSE:FMY) Decreases By 57.8%

First Trust Mortgage Income Fund (NYSE:FMY) was the target of a large decline in short interest in January. As of January 30th, there was short interest totaling 8,257 shares, a decline of 57.8% from the January 15th total of 19,580 shares. Based on an average daily volume of 4,434 shares, the short-interest ratio is currently 1.9 days. Based on an average daily volume of 4,434 shares, the short-interest ratio is currently 1.9 days.

First Trust Mortgage Income Fund Price Performance

Shares of FMY traded up $0.03 during midday trading on Friday, reaching $12.13. 3,895 shares of the stock were exchanged, compared to its average volume of 5,303. First Trust Mortgage Income Fund has a 52 week low of $11.65 and a 52 week high of $12.39. The company’s 50 day moving average is $12.09 and its two-hundred day moving average is $12.14.

First Trust Mortgage Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Monday, February 2nd. This represents a c) dividend on an annualized basis and a yield of 6.4%.

Institutional Investors Weigh In On First Trust Mortgage Income Fund

Several hedge funds have recently modified their holdings of FMY. Sit Investment Associates Inc. increased its holdings in 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 buying an additional 31,512 shares during the period. Uhlmann Price Securities LLC boosted its position 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 acquiring an additional 7,423 shares in the last quarter. Noble Wealth Management PBC increased its holdings in shares of First Trust Mortgage Income Fund by 60.4% in the 4th quarter. Noble Wealth Management PBC now owns 46,681 shares of the company’s stock valued at $567,000 after acquiring an additional 17,572 shares during the period. Jones Financial Companies Lllp raised its position in shares of First Trust Mortgage Income Fund by 29.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 18,267 shares of the company’s stock worth $223,000 after acquiring an additional 4,154 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of First Trust Mortgage Income Fund during the 2nd quarter worth $31,000.

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.