First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Sees Large Decline in Short Interest

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) was the recipient of a large decrease in short interest in June. As of June 15th, there was short interest totalling 59,600 shares, a decrease of 7.2% from the May 31st total of 64,200 shares. Based on an average daily trading volume, of 53,900 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Investors Weigh In On First Trust Specialty Finance and Financial Opportunities Fund

Several institutional investors have recently modified their holdings of the business. Blue Bell Private Wealth Management LLC boosted its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 147.9% during the first quarter. Blue Bell Private Wealth Management LLC now owns 9,087 shares of the closed-end fund’s stock worth $34,000 after buying an additional 5,421 shares during the last quarter. Matisse Capital increased its position in shares of First Trust Specialty Finance and Financial Opportunities Fund by 2.3% during the fourth quarter. Matisse Capital now owns 248,189 shares of the closed-end fund’s stock worth $889,000 after acquiring an additional 5,477 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of First Trust Specialty Finance and Financial Opportunities Fund by 7.1% during the first quarter. Commonwealth Equity Services LLC now owns 158,660 shares of the closed-end fund’s stock worth $598,000 after acquiring an additional 10,506 shares during the period. Alpine Global Management LLC lifted its position in 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 acquiring an additional 10,654 shares in the last quarter. Finally, L.M. Kohn & Company bought a new stake in First Trust Specialty Finance and Financial Opportunities Fund in the 4th quarter valued at $42,000.

First Trust Specialty Finance and Financial Opportunities Fund Trading Up 0.3 %

Shares of FGB traded up $0.01 during trading hours on Wednesday, hitting $3.95. 33,272 shares of the stock traded hands, compared to its average volume of 53,060. The business has a fifty day moving average of $3.84 and a 200-day moving average of $3.68. First Trust Specialty Finance and Financial Opportunities Fund has a 1-year low of $2.98 and a 1-year high of $3.99.

First Trust Specialty Finance and Financial Opportunities Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Thursday, May 23rd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 10.13%. The ex-dividend date was Wednesday, May 22nd. This is a positive change from First Trust Specialty Finance and Financial Opportunities Fund’s previous quarterly dividend of $0.08.

First Trust Specialty Finance and Financial Opportunities Fund Company Profile

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.