First Trust Mortgage Income Fund (NYSE:FMY) to Issue Monthly Dividend of $0.07

First Trust Mortgage Income Fund (NYSE:FMY) announced a monthly dividend on Thursday, August 21st, Wall Street Journal reports. Stockholders of record on Tuesday, September 2nd will be given a dividend of 0.07 per share on Monday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Tuesday, September 2nd.

First Trust Mortgage Income Fund Trading Up 0.0%

Shares of NYSE FMY opened at $12.1850 on Friday. First Trust Mortgage Income Fund has a 12-month low of $11.55 and a 12-month high of $12.72. The stock has a 50 day simple moving average of $12.18 and a 200-day simple moving average of $12.09.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FMY. Jones Financial Companies Lllp grew its stake in shares of First Trust Mortgage Income Fund by 4,163.3% in the first quarter. Jones Financial Companies Lllp now owns 325,927 shares of the company’s stock worth $3,983,000 after purchasing an additional 318,282 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in First Trust Mortgage Income Fund in the first quarter worth about $271,000. Raymond James Financial Inc. acquired a new stake in First Trust Mortgage Income Fund in the second quarter worth about $31,000. Finally, Noble Wealth Management PBC grew its position in First Trust Mortgage Income Fund by 6.2% in the 1st quarter. Noble Wealth Management PBC now owns 40,776 shares of the company’s stock valued at $498,000 after buying an additional 2,396 shares in the last quarter.

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.