First Trust Mortgage Income Fund (NYSE:FMY) Shares Cross Above 50-Day Moving Average – Here’s What Happened

First Trust Mortgage Income Fund (NYSE:FMY)’s stock price crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $11.29 and traded as high as $11.40. First Trust Mortgage Income Fund shares last traded at $11.2980, with a volume of 2,760 shares traded.

First Trust Mortgage Income Fund Stock Up 1.1%

The business has a fifty day moving average price of $11.29 and a 200 day moving average price of $11.68.

First Trust Mortgage Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be issued a dividend of $0.0650 per share. The ex-dividend date is Monday, November 2nd. This represents a $0.78 dividend on an annualized basis and a dividend yield of 6.9%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in First Trust Mortgage Income Fund stock. Narwhal Capital Management purchased a new stake in shares of First Trust Mortgage Income Fund (NYSE:FMY) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 19,444 shares of the company’s stock, valued at approximately $216,000.

About First Trust Mortgage Income Fund

First Trust Mortgage Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol FMY. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective, by investing primarily in mortgage-related securities.

Its portfolio may include residential mortgage-backed securities, commercial mortgage-backed securities, mortgage derivatives and other debt instruments issued or backed by government agencies, government-sponsored enterprises and private entities.