First Trust Mortgage Income Fund (NYSE:FMY) Shares Down 0.8% – What’s Next?

First Trust Mortgage Income Fund (NYSE:FMY) shares dropped 0.8% during mid-day trading on Tuesday . The stock traded as low as $11.44 and last traded at $11.5710. Approximately 829 shares were traded during trading, a decline of 87% from the average daily volume of 6,489 shares. The stock had previously closed at $11.66.

First Trust Mortgage Income Fund Price Performance

The firm has a 50-day simple moving average of $11.86 and a two-hundred day simple moving average of $12.00.

First Trust Mortgage Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be issued a $0.065 dividend. The ex-dividend date is Friday, May 1st. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%.

Institutional Investors Weigh In On First Trust Mortgage Income Fund

A number of hedge funds have recently added to or reduced their stakes in FMY. Sit Investment Associates Inc. boosted its position in First Trust Mortgage Income Fund by 1.4% in the 4th quarter. Sit Investment Associates Inc. now owns 2,297,106 shares of the company’s stock valued at $27,910,000 after buying an additional 31,512 shares during the period. Noble Wealth Management PBC raised 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 valued at $567,000 after acquiring an additional 17,572 shares in the last quarter. Uhlmann Price Securities LLC raised its stake in shares of First Trust Mortgage Income Fund by 45.7% in the fourth quarter. Uhlmann Price Securities LLC now owns 23,674 shares of the company’s stock valued at $288,000 after acquiring an additional 7,423 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in 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 valued at $223,000 after purchasing an additional 4,154 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in First Trust Mortgage Income Fund during the 2nd quarter worth $31,000.

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.