First Trust Mortgage Income Fund (NYSE:FMY) Short Interest Up 8.9% in March

First Trust Mortgage Income Fund (NYSE:FMY) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 9,800 shares, a growth of 8.9% from the March 15th total of 9,000 shares. Based on an average daily volume of 10,700 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FMY. Advisor Group Holdings Inc. boosted its position in First Trust Mortgage Income Fund by 16.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 10,892 shares of the company’s stock worth $134,000 after acquiring an additional 1,567 shares during the period. Susquehanna International Group LLP raised its stake in shares of First Trust Mortgage Income Fund by 21.7% in the 4th quarter. Susquehanna International Group LLP now owns 12,679 shares of the company’s stock worth $142,000 after buying an additional 2,258 shares in the last quarter. Morgan Stanley raised its stake in shares of First Trust Mortgage Income Fund by 64.7% in the 4th quarter. Morgan Stanley now owns 11,901 shares of the company’s stock worth $133,000 after buying an additional 4,674 shares in the last quarter. UBS Group AG raised its stake in shares of First Trust Mortgage Income Fund by 223.2% in the 1st quarter. UBS Group AG now owns 3,852 shares of the company’s stock worth $44,000 after buying an additional 2,660 shares in the last quarter. Finally, Transform Wealth LLC bought a new stake in shares of First Trust Mortgage Income Fund during the 3rd quarter worth about $130,000.

First Trust Mortgage Income Fund Price Performance

NYSE:FMY remained flat at $11.62 during midday trading on Wednesday. The company had a trading volume of 2,657 shares, compared to its average volume of 10,260. First Trust Mortgage Income Fund has a twelve month low of $10.71 and a twelve month high of $12.18. The firm has a fifty day moving average of $11.88 and a two-hundred day moving average of $11.64.

First Trust Mortgage Income Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were given a dividend of $0.0825 per share. The ex-dividend date of this dividend was Monday, April 1st. This represents a $0.99 dividend on an annualized basis and a yield of 8.52%.

About First Trust Mortgage Income Fund

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.