First Trust Mortgage Income Fund (NYSE:FMY) Sees Large Increase in Short Interest

First Trust Mortgage Income Fund (NYSE:FMY) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totalling 9,900 shares, an increase of 296.0% from the May 31st total of 2,500 shares. Based on an average daily trading volume, of 5,900 shares, the days-to-cover ratio is currently 1.7 days.

First Trust Mortgage Income Fund Trading Down 1.2 %

NYSE:FMY traded down $0.14 during trading hours on Thursday, reaching $11.78. 734 shares of the stock were exchanged, compared to its average volume of 7,957. First Trust Mortgage Income Fund has a twelve month low of $10.71 and a twelve month high of $12.23. The firm has a 50 day moving average of $11.88 and a 200 day moving average of $11.89.

First Trust Mortgage Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a $0.0825 dividend. This represents a $0.99 dividend on an annualized basis and a yield of 8.40%. The ex-dividend date is Monday, July 1st.

Institutional Investors Weigh In On First Trust Mortgage Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. Comerica Bank acquired a new stake in First Trust Mortgage Income Fund in the 1st quarter valued at about $47,000. Global Assets Advisory LLC acquired a new stake in shares of First Trust Mortgage Income Fund in the first quarter valued at approximately $1,108,000. Finally, Narwhal Capital Management boosted its stake in shares of First Trust Mortgage Income Fund by 58.6% during the 4th quarter. Narwhal Capital Management now owns 48,953 shares of the company’s stock worth $593,000 after acquiring an additional 18,080 shares during the period.

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.