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

First Trust Mortgage Income Fund (NYSE:FMY)’s share price dropped 0.8% during trading on Tuesday . The company traded as low as $11.44 and last traded at $11.5710. Approximately 829 shares changed hands 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 stock has a 50 day moving average price of $11.86 and a 200-day moving average price of $12.00.

First Trust Mortgage Income Fund Announces Dividend

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

Hedge Funds Weigh In On First Trust Mortgage Income Fund

Institutional investors and hedge funds have recently bought and sold shares of the business. Sit Investment Associates Inc. increased its position in shares of First Trust Mortgage Income Fund by 1.4% during the 4th quarter. Sit Investment Associates Inc. now owns 2,297,106 shares of the company’s stock worth $27,910,000 after purchasing an additional 31,512 shares during the last quarter. Noble Wealth Management PBC boosted its stake 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. Uhlmann Price Securities LLC boosted its stake 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. Jones Financial Companies Lllp increased its position in shares of 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 valued at $223,000 after acquiring an additional 4,154 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of First Trust Mortgage Income Fund during the second quarter valued at about $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.