First Trust Mortgage Income Fund (NYSE:FMY) Shares Down 1.2% – Here’s Why

First Trust Mortgage Income Fund (NYSE:FMY) shares dropped 1.2% on Friday . The company traded as low as $11.61 and last traded at $11.64. Approximately 15,094 shares traded hands during mid-day trading, an increase of 120% from the average daily volume of 6,866 shares. The stock had previously closed at $11.78.

First Trust Mortgage Income Fund Stock Down 1.2 %

The stock has a fifty day moving average price of $12.02 and a 200-day moving average price of $12.16.

First Trust Mortgage Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.075 per share. This represents a $0.90 dividend on an annualized basis and a yield of 7.73%. The ex-dividend date is Tuesday, December 31st.

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.