First Trust Mortgage Income Fund (NYSE:FMY) Trading 1% Higher – What’s Next?

First Trust Mortgage Income Fund (NYSE:FMY)’s stock price was up 1% on Friday . The company traded as high as $12.34 and last traded at $12.2650. 11,311 shares traded hands during mid-day trading, a decline of 3% from the average daily volume of 11,668 shares. The stock had previously closed at $12.14.

First Trust Mortgage Income Fund Stock Performance

The business’s 50-day moving average is $12.03 and its 200-day moving average is $12.15.

First Trust Mortgage Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.065 per share. This represents a c) annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Wednesday, December 31st.

Institutional Trading of First Trust Mortgage Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in FMY. Raymond James Financial Inc. purchased a new position in First Trust Mortgage Income Fund during the second quarter valued at $31,000. Jones Financial Companies Lllp grew its stake in shares of First Trust Mortgage Income Fund by 29.4% in the third 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 during the last quarter. Finally, Noble Wealth Management PBC grew its stake 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 worth $567,000 after acquiring an additional 17,572 shares during 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.