First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Short Interest Up 47.3% in October

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 54,800 shares, an increase of 47.3% from the October 15th total of 37,200 shares. Based on an average daily trading volume, of 59,700 shares, the short-interest ratio is currently 0.9 days.

Institutional Trading of First Trust Specialty Finance and Financial Opportunities Fund

A number of institutional investors have recently modified their holdings of FGB. Rivernorth Capital Management LLC boosted its position in shares of First Trust Specialty Finance and Financial Opportunities Fund by 81.8% in the 3rd quarter. Rivernorth Capital Management LLC now owns 384,102 shares of the closed-end fund’s stock worth $1,563,000 after purchasing an additional 172,880 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 9.3% in the second quarter. Commonwealth Equity Services LLC now owns 173,378 shares of the closed-end fund’s stock worth $674,000 after acquiring an additional 14,718 shares in the last quarter. Atomi Financial Group Inc. grew its stake in shares of First Trust Specialty Finance and Financial Opportunities Fund by 13.0% during the third quarter. Atomi Financial Group Inc. now owns 107,998 shares of the closed-end fund’s stock worth $440,000 after acquiring an additional 12,408 shares during the last quarter. Good Life Advisors LLC increased its holdings in shares of First Trust Specialty Finance and Financial Opportunities Fund by 102.8% during the third quarter. Good Life Advisors LLC now owns 107,026 shares of the closed-end fund’s stock valued at $436,000 after acquiring an additional 54,240 shares in the last quarter. Finally, Alpine Global Management LLC raised its position in shares of First Trust Specialty Finance and Financial Opportunities Fund by 11.9% in the 1st quarter. Alpine Global Management LLC now owns 100,000 shares of the closed-end fund’s stock valued at $377,000 after purchasing an additional 10,654 shares during the last quarter.

First Trust Specialty Finance and Financial Opportunities Fund Stock Up 1.8 %

NYSE FGB traded up $0.08 during midday trading on Friday, hitting $4.25. 76,718 shares of the company traded hands, compared to its average volume of 53,580. First Trust Specialty Finance and Financial Opportunities Fund has a 52 week low of $3.26 and a 52 week high of $4.29. The company’s 50-day simple moving average is $4.10 and its 200-day simple moving average is $3.96.

First Trust Specialty Finance and Financial Opportunities Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 22nd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 9.41%.

About First Trust Specialty Finance and Financial Opportunities Fund

First Trust Specialty Finance and Financial Opportunities Fund is a closed-ended equity mutual fund launched and managed by First Trust Advisors L.P. It is co-managed by Confluence Investment Management LLC. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating in the specialty finance and other financial sectors.