First Trust Mortgage Income Fund (NYSE:FMY) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

First Trust Mortgage Income Fund (NYSE:FMY) crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $11.29 and traded as high as $11.40. First Trust Mortgage Income Fund shares last traded at $11.2980, with a volume of 2,760 shares traded.

First Trust Mortgage Income Fund Stock Up 1.1%

The company’s 50 day simple moving average is $11.29 and its 200 day simple moving average is $11.68.

First Trust Mortgage Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be issued a dividend of $0.0650 per share. The ex-dividend date is Monday, November 2nd. This represents a $0.78 annualized dividend and a dividend yield of 6.9%.

Institutional Investors Weigh In On First Trust Mortgage Income Fund

A hedge fund recently bought a new position in First Trust Mortgage Income Fund stock. Narwhal Capital Management bought a new position in shares of First Trust Mortgage Income Fund (NYSE:FMY) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,444 shares of the company’s stock, valued at approximately $216,000.

First Trust Mortgage Income Fund Company Profile

First Trust Mortgage Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol FMY. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective, by investing primarily in mortgage-related securities.

Its portfolio may include residential mortgage-backed securities, commercial mortgage-backed securities, mortgage derivatives and other debt instruments issued or backed by government agencies, government-sponsored enterprises and private entities.