Short Interest in First Trust Mortgage Income Fund (NYSE:FMY) Rises By 37.8%

First Trust Mortgage Income Fund (NYSE:FMY) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 17,500 shares, a growth of 37.8% from the February 28th total of 12,700 shares. Based on an average trading volume of 5,200 shares, the short-interest ratio is presently 3.4 days.

First Trust Mortgage Income Fund Price Performance

Shares of FMY traded down $0.04 during trading hours on Tuesday, hitting $12.18. The company’s stock had a trading volume of 1,272 shares, compared to its average volume of 7,314. The business has a 50 day simple moving average of $12.08 and a two-hundred day simple moving average of $12.10. First Trust Mortgage Income Fund has a 52-week low of $11.48 and a 52-week high of $12.72.

First Trust Mortgage Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.075 per share. The ex-dividend date is Tuesday, April 1st. This represents a $0.90 dividend on an annualized basis and a yield of 7.39%.

Hedge Funds Weigh In On First Trust Mortgage Income Fund

A number of large investors have recently made changes to their positions in FMY. Jones Financial Companies Lllp raised its stake in shares of First Trust Mortgage Income Fund by 45.1% during the 4th quarter. Jones Financial Companies Lllp now owns 7,645 shares of the company’s stock valued at $92,000 after purchasing an additional 2,375 shares during the period. Transform Wealth LLC bought a new stake in shares of First Trust Mortgage Income Fund during the fourth quarter valued at about $279,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of First Trust Mortgage Income Fund in the fourth quarter worth about $460,000.

About First Trust Mortgage Income Fund

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.