First Trust Mortgage Income Fund (NYSE:FMY) Sees Significant Decline in Short Interest

First Trust Mortgage Income Fund (NYSE:FMY) saw a large drop in short interest in February. As of February 27th, there was short interest totaling 3,202 shares, a drop of 29.6% from the February 12th total of 4,549 shares. Based on an average daily trading volume, of 4,998 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily trading volume, of 4,998 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of First Trust Mortgage Income Fund in the 2nd quarter worth $31,000. Jones Financial Companies Lllp increased its stake in shares of First Trust Mortgage Income Fund by 29.4% during the third quarter. Jones Financial Companies Lllp now owns 18,267 shares of the company’s stock valued at $223,000 after buying an additional 4,154 shares during the period. Uhlmann Price Securities LLC increased its stake in shares of First Trust Mortgage Income Fund by 45.7% during the fourth quarter. Uhlmann Price Securities LLC now owns 23,674 shares of the company’s stock valued at $288,000 after buying an additional 7,423 shares during the period. Noble Wealth Management PBC raised its holdings in shares of First Trust Mortgage Income Fund by 60.4% in the fourth 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 in the last quarter. Finally, Sit Investment Associates Inc. raised its holdings in shares of First Trust Mortgage Income Fund by 1.4% in 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 in the last quarter.

First Trust Mortgage Income Fund Price Performance

FMY stock traded up $0.16 during mid-day trading on Monday, reaching $11.56. The company had a trading volume of 5,026 shares, compared to its average volume of 7,956. The firm has a 50 day moving average of $12.09 and a 200 day moving average of $12.11. First Trust Mortgage Income Fund has a 12 month low of $11.40 and a 12 month high of $12.39.

First Trust Mortgage Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a $0.065 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a c) annualized dividend and a yield of 6.7%.

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.