First Trust Mortgage Income Fund (NYSE:FMY) Short Interest Up 37.8% in March

First Trust Mortgage Income Fund (NYSE:FMY) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 17,500 shares, a growth of 37.8% from the February 28th total of 12,700 shares. Based on an average trading volume of 5,200 shares, the days-to-cover ratio is currently 3.4 days.

Hedge Funds Weigh In On First Trust Mortgage Income Fund

Large investors have recently bought and sold shares of the company. Jones Financial Companies Lllp increased its stake in shares of First Trust Mortgage Income Fund by 45.1% during the fourth quarter. Jones Financial Companies Lllp now owns 7,645 shares of the company’s stock worth $92,000 after acquiring an additional 2,375 shares during the period. Transform Wealth LLC purchased a new position in shares of First Trust Mortgage Income Fund in the 4th quarter valued at about $279,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of First Trust Mortgage Income Fund in the fourth quarter valued at about $460,000.

First Trust Mortgage Income Fund Price Performance

NYSE:FMY opened at $12.18 on Wednesday. First Trust Mortgage Income Fund has a 12-month low of $11.48 and a 12-month high of $12.72. The stock’s 50 day simple moving average is $12.08 and its 200-day simple moving average is $12.10.

First Trust Mortgage Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.075 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.90 annualized dividend and a yield of 7.39%.

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.