First Trust Mortgage Income Fund (NYSE:FMY) Sees Significant Increase in Short Interest

First Trust Mortgage Income Fund (NYSE:FMY) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 9,900 shares, an increase of 296.0% from the May 31st total of 2,500 shares. Based on an average trading volume of 5,900 shares, the short-interest ratio is presently 1.7 days.

Institutional Trading of First Trust Mortgage Income Fund

Several large investors have recently added to or reduced their stakes in the stock. Comerica Bank purchased a new stake in First Trust Mortgage Income Fund during the 1st quarter worth approximately $47,000. Narwhal Capital Management increased its position in shares of First Trust Mortgage Income Fund by 58.6% during the fourth quarter. Narwhal Capital Management now owns 48,953 shares of the company’s stock worth $593,000 after acquiring an additional 18,080 shares during the period. Finally, Global Assets Advisory LLC acquired a new stake in shares of First Trust Mortgage Income Fund in the first quarter valued at $1,108,000.

First Trust Mortgage Income Fund Price Performance

Shares of FMY stock remained flat at $11.93 during trading hours on Friday. The stock had a trading volume of 3,597 shares, compared to its average volume of 7,921. First Trust Mortgage Income Fund has a twelve month low of $10.71 and a twelve month high of $12.23. The business’s fifty day moving average price is $11.88 and its 200 day moving average price is $11.89.

First Trust Mortgage Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a $0.0825 dividend. This represents a $0.99 annualized dividend and a dividend yield of 8.30%. The ex-dividend date is Monday, July 1st.

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.