First Trust Mortgage Income Fund (NYSE:FMY) Trading Down 1.2% – Here’s Why

First Trust Mortgage Income Fund (NYSE:FMY)’s stock price fell 1.2% during mid-day trading on Friday . The company traded as low as $11.61 and last traded at $11.64. 15,094 shares were traded during mid-day trading, an increase of 120% from the average session volume of 6,866 shares. The stock had previously closed at $11.78.

First Trust Mortgage Income Fund Stock Down 1.2 %

The firm’s fifty day moving average is $12.02 and its 200 day moving average is $12.16.

First Trust Mortgage Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.075 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.90 dividend on an annualized basis and a dividend yield of 7.73%.

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.