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

First Trust Mortgage Income Fund (NYSE:FMY) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 2,686 shares, a decrease of 35.6% from the August 15th total of 4,171 shares. Based on an average daily volume of 3,989 shares, the short-interest ratio is currently 0.7 days.

Institutional Inflows and Outflows

A hedge fund recently raised its position in First Trust Mortgage Income Fund stock. Sit Investment Associates Inc. lifted its stake in shares of First Trust Mortgage Income Fund (NYSE:FMY) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,297,106 shares of the company’s stock after purchasing an additional 31,512 shares during the quarter. Sit Investment Associates Inc.’s holdings in First Trust Mortgage Income Fund were worth $27,910,000 at the end of the most recent reporting period.

First Trust Mortgage Income Fund Price Performance

Shares of NYSE:FMY traded up $0.10 during trading hours on Thursday, hitting $11.49. The stock had a trading volume of 832 shares, compared to its average volume of 4,963. The stock’s fifty day simple moving average is $11.61 and its 200 day simple moving average is $11.72. First Trust Mortgage Income Fund has a 1-year low of $11.21 and a 1-year high of $12.36.

First Trust Mortgage Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a $0.065 dividend. This represents a c) annualized dividend and a yield of 6.8%. The ex-dividend date was Tuesday, September 1st.

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.