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

First Trust Mortgage Income Fund (NYSE:FMY) was the recipient of a large growth in short interest in 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 daily trading volume, of 10,700 shares, the short-interest ratio is currently 0.9 days.

Institutional Investors Weigh In On First Trust Mortgage Income Fund

Several institutional investors have recently bought and sold shares of the company. Global Assets Advisory LLC acquired a new stake in First Trust Mortgage Income Fund during the 1st quarter worth $1,108,000. Narwhal Capital Management lifted its stake in shares of First Trust Mortgage Income Fund by 58.6% in the fourth quarter. Narwhal Capital Management now owns 48,953 shares of the company’s stock worth $593,000 after buying an additional 18,080 shares in the last quarter. Transform Wealth LLC acquired a new position in First Trust Mortgage Income Fund during the third quarter worth about $130,000. UBS Group AG grew its stake 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 acquiring an additional 2,660 shares in the last quarter. Finally, Morgan Stanley grew its stake in First Trust Mortgage Income Fund by 64.7% during 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 in the last quarter.

First Trust Mortgage Income Fund Stock Performance

NYSE:FMY remained flat at $11.62 during trading hours on Wednesday. 2,657 shares of the company’s stock were exchanged, 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 stock has a fifty day moving average of $11.88 and a 200-day moving average of $11.64.

First Trust Mortgage Income Fund Cuts Dividend

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

First Trust Mortgage Income Fund Company Profile

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.