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

First Trust Mortgage Income Fund (NYSE:FMY) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 4,567 shares, a drop of 53.8% from the April 30th total of 9,876 shares. Based on an average trading volume of 4,019 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Investors Weigh In On First Trust Mortgage Income Fund

Several institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in First Trust Mortgage Income Fund during the second quarter worth approximately $31,000. Jones Financial Companies Lllp increased its position in First Trust Mortgage Income Fund by 29.4% during the third quarter. Jones Financial Companies Lllp now owns 18,267 shares of the company’s stock worth $223,000 after buying an additional 4,154 shares during the period. Uhlmann Price Securities LLC increased its position in First Trust Mortgage Income Fund by 45.7% during the fourth quarter. Uhlmann Price Securities LLC now owns 23,674 shares of the company’s stock worth $288,000 after buying an additional 7,423 shares during the period. Noble Wealth Management PBC increased its position in First Trust Mortgage Income Fund by 60.4% during the fourth quarter. Noble Wealth Management PBC now owns 46,681 shares of the company’s stock worth $567,000 after buying an additional 17,572 shares during the period. Finally, Sit Investment Associates Inc. increased its position in First Trust Mortgage Income Fund by 1.4% during the fourth quarter. Sit Investment Associates Inc. now owns 2,297,106 shares of the company’s stock worth $27,910,000 after buying an additional 31,512 shares during the period.

First Trust Mortgage Income Fund Stock Performance

First Trust Mortgage Income Fund stock traded up $0.07 during midday trading on Tuesday, reaching $11.60. 283 shares of the stock traded hands, compared to its average volume of 6,114. The company has a 50-day simple moving average of $11.82 and a two-hundred day simple moving average of $11.96. First Trust Mortgage Income Fund has a 12-month low of $11.40 and a 12-month high of $12.39.

First Trust Mortgage Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.065 per share. This represents a c) dividend on an annualized basis and a yield of 6.7%. The ex-dividend date is Monday, June 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.