First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Short Interest Up 47.3% in October

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 54,800 shares, an increase of 47.3% from the October 15th total of 37,200 shares. Based on an average daily volume of 59,700 shares, the short-interest ratio is presently 0.9 days.

Institutional Investors Weigh In On First Trust Specialty Finance and Financial Opportunities Fund

A number of hedge funds have recently modified their holdings of the business. Alpine Global Management LLC raised its position in shares of First Trust Specialty Finance and Financial Opportunities Fund by 11.9% in the first quarter. Alpine Global Management LLC now owns 100,000 shares of the closed-end fund’s stock valued at $377,000 after buying an additional 10,654 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of First Trust Specialty Finance and Financial Opportunities Fund in the third quarter valued at about $48,000. L.M. Kohn & Company acquired a new stake in shares of First Trust Specialty Finance and Financial Opportunities Fund in the third quarter valued at about $48,000. Atomi Financial Group Inc. raised its position in shares of First Trust Specialty Finance and Financial Opportunities Fund by 13.0% in the third quarter. Atomi Financial Group Inc. now owns 107,998 shares of the closed-end fund’s stock valued at $440,000 after buying an additional 12,408 shares during the last quarter. Finally, Shaker Financial Services LLC acquired a new stake in shares of First Trust Specialty Finance and Financial Opportunities Fund in the second quarter valued at about $52,000.

First Trust Specialty Finance and Financial Opportunities Fund Price Performance

Shares of NYSE FGB traded up $0.08 during mid-day trading on Friday, reaching $4.25. The company’s stock had a trading volume of 76,718 shares, compared to its average volume of 53,580. The stock has a 50-day moving average of $4.10 and a two-hundred day moving average of $3.96. First Trust Specialty Finance and Financial Opportunities Fund has a 1-year low of $3.26 and a 1-year high of $4.29.

First Trust Specialty Finance and Financial Opportunities Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 22nd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.41%. The ex-dividend date is Friday, November 22nd.

About First Trust Specialty Finance and Financial Opportunities Fund

First Trust Specialty Finance and Financial Opportunities Fund is a closed-ended equity mutual fund launched and managed by First Trust Advisors L.P. It is co-managed by Confluence Investment Management LLC. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating in the specialty finance and other financial sectors.