Short Interest in First Trust Mortgage Income Fund (NYSE:FMY) Grows By 299.1%

First Trust Mortgage Income Fund (NYSE:FMY) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 11,707 shares, a growth of 299.1% from the March 15th total of 2,933 shares. Based on an average trading volume of 6,203 shares, the days-to-cover ratio is presently 1.9 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sit Investment Associates Inc. raised its position in 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 valued at $27,910,000 after purchasing an additional 31,512 shares during the last quarter. Uhlmann Price Securities LLC raised its position in First Trust Mortgage Income Fund by 45.7% during the 4th quarter. Uhlmann Price Securities LLC now owns 23,674 shares of the company’s stock valued at $288,000 after purchasing an additional 7,423 shares during the last quarter. Noble Wealth Management PBC raised its position in First Trust Mortgage Income Fund by 60.4% during the 4th quarter. Noble Wealth Management PBC now owns 46,681 shares of the company’s stock valued at $567,000 after purchasing an additional 17,572 shares during the last quarter. Jones Financial Companies Lllp raised its position in First Trust Mortgage Income Fund by 29.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 18,267 shares of the company’s stock valued at $223,000 after purchasing an additional 4,154 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in First Trust Mortgage Income Fund during the 2nd quarter valued at approximately $31,000.

First Trust Mortgage Income Fund Trading Down 0.7%

FMY stock traded down $0.08 during trading on Friday, hitting $12.00. 4,289 shares of the company traded hands, compared to its average volume of 7,423. First Trust Mortgage Income Fund has a 1 year low of $11.40 and a 1 year high of $12.39. The company has a 50-day moving average of $11.92 and a 200-day moving average of $12.04.

First Trust Mortgage Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a c) dividend on an annualized basis and a yield of 6.5%.

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.