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

First Trust Mortgage Income Fund (NYSE:FMY) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 2,595 shares, a drop of 48.3% from the September 15th total of 5,022 shares. Based on an average daily trading volume, of 3,337 shares, the days-to-cover ratio is currently 0.8 days.

First Trust Mortgage Income Fund Trading Up 3.3%

Shares of NYSE:FMY traded up $0.35 during midday trading on Thursday, hitting $11.27. 14,017 shares of the company’s stock were exchanged, compared to its average volume of 5,006. The stock has a 50 day moving average price of $11.44 and a 200-day moving average price of $11.64. First Trust Mortgage Income Fund has a 12 month low of $10.67 and a 12 month high of $12.36.

First Trust Mortgage Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be given a $0.0650 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.78 annualized dividend and a yield of 6.9%.

Hedge Funds Weigh In On First Trust Mortgage Income Fund

A hedge fund recently raised its position in First Trust Mortgage Income Fund stock. Sit Investment Associates Inc. grew its stake in shares of First Trust Mortgage Income Fund (NYSE:FMY) by 1.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,297,106 shares of the company’s stock after purchasing an additional 31,512 shares during the period. Sit Investment Associates Inc.’s holdings in First Trust Mortgage Income Fund were worth $27,910,000 as of its most recent filing with the SEC.

First Trust Mortgage Income Fund Company Profile

First Trust Mortgage Income Fund is a diversified, closed-end investment company listed on the New York Stock Exchange under the symbol FMY. The fund is designed to provide investors with a high level of current income, with long-term capital appreciation serving as a secondary objective.

The fund invests primarily in mortgage-related securities, including residential and commercial mortgage-backed securities and other instruments linked to mortgage credit. Its portfolio may include both agency and non-agency securities, allowing the fund to pursue income across different segments of the mortgage market while managing credit, interest-rate and prepayment risks.

First Trust Mortgage Income Fund is advised by First Trust Advisors L.P., an investment management firm affiliated with First Trust.