First Trust Mortgage Income Fund (NYSE:FMY) Short Interest Update

First Trust Mortgage Income Fund (NYSE:FMY) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 9,800 shares, an increase of 8.9% from the March 15th total of 9,000 shares. Based on an average trading volume of 10,700 shares, the days-to-cover ratio is currently 0.9 days.

First Trust Mortgage Income Fund Stock Performance

Shares of FMY stock traded down $0.10 on Monday, reaching $11.62. The company had a trading volume of 5,729 shares, compared to its average volume of 10,366. The company has a 50-day moving average of $11.90 and a 200-day moving average of $11.63. First Trust Mortgage Income Fund has a 12 month low of $10.71 and a 12 month high of $12.18.

First Trust Mortgage Income Fund Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, April 15th. Investors of record on Tuesday, April 2nd will be given a $0.0825 dividend. The ex-dividend date of this dividend is Monday, April 1st. This represents a $0.99 annualized dividend and a dividend yield of 8.52%.

Hedge Funds Weigh In On First Trust Mortgage Income Fund

Several institutional investors and hedge funds have recently modified their holdings of FMY. Advisor Group Holdings Inc. grew its position in shares of First Trust Mortgage Income Fund by 16.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 10,892 shares of the company’s stock valued at $134,000 after purchasing an additional 1,567 shares during the period. Susquehanna International Group LLP boosted its position in First Trust Mortgage Income Fund by 21.7% during the 4th quarter. Susquehanna International Group LLP now owns 12,679 shares of the company’s stock worth $142,000 after acquiring an additional 2,258 shares during the last quarter. Morgan Stanley boosted its position 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 worth $133,000 after acquiring an additional 4,674 shares during the last quarter. UBS Group AG boosted its position 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 worth $44,000 after acquiring an additional 2,660 shares during the last quarter. Finally, Transform Wealth LLC acquired a new position in First Trust Mortgage Income Fund during the 3rd quarter worth approximately $130,000.

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.