First Trust Mortgage Income Fund (NYSE:FMY) Stock Price Down 0.7% – Here’s Why

First Trust Mortgage Income Fund (NYSE:FMY) traded down 0.7% on Friday . The stock traded as low as $11.35 and last traded at $11.3840. 2,238 shares were traded during trading, a decline of 55% from the average daily volume of 4,996 shares. The stock had previously closed at $11.47.

First Trust Mortgage Income Fund Stock Down 0.7%

The company has a fifty day moving average of $11.63 and a 200 day moving average of $11.74.

First Trust Mortgage Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.065 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%.

Institutional Trading of First Trust Mortgage Income Fund

A hedge fund recently bought a new stake in First Trust Mortgage Income Fund stock. Raymond James Financial Inc. purchased a new position in First Trust Mortgage Income Fund (NYSE:FMY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,547 shares of the company’s stock, valued at approximately $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.