First Trust Mortgage Income Fund (NYSE:FMY) Stock Price Down 0.5% – Time to Sell?

Posted by John. R. Edwardson on Nov 15th, 2024

First Trust Mortgage Income Fund (NYSE:FMY – Get Free Report)’s stock price was down 0.5% during mid-day trading on Tuesday . The company traded as low as $12.02 and last traded at $12.03. Approximately 1,375 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 9,122 shares. The stock had previously closed at $12.08.

First Trust Mortgage Income Fund Stock Down 0.2 %

The business has a 50 day simple moving average of $12.26 and a 200-day simple moving average of $12.13.

First Trust Mortgage Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.075 per share. The ex-dividend date is Friday, November 1st. This represents a $0.90 annualized dividend and a dividend yield of 7.54%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in First Trust Mortgage Income Fund stock. Comerica Bank acquired a new stake in First Trust Mortgage Income Fund (NYSE:FMY – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,827 shares of the company’s stock, valued at approximately $47,000.

About First Trust Mortgage Income Fund

(Get Free Report)

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.