First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Short Interest Update

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGBGet Rating) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 8,300 shares, a decline of 70.4% from the March 15th total of 28,000 shares. Based on an average trading volume of 52,800 shares, the days-to-cover ratio is currently 0.2 days.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Logan Stone Capital LLC acquired a new position in First Trust Specialty Finance and Financial Opportunities Fund in the fourth quarter valued at approximately $105,000. Wells Fargo & Company MN boosted its stake in First Trust Specialty Finance and Financial Opportunities Fund by 57.7% during the fourth quarter. Wells Fargo & Company MN now owns 28,213 shares of the closed-end fund’s stock worth $115,000 after acquiring an additional 10,326 shares in the last quarter. LPL Financial LLC grew its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 10.8% in the fourth quarter. LPL Financial LLC now owns 275,310 shares of the closed-end fund’s stock worth $1,126,000 after purchasing an additional 26,759 shares during the period. Wolverine Asset Management LLC increased its stake in First Trust Specialty Finance and Financial Opportunities Fund by 47.4% in the fourth quarter. Wolverine Asset Management LLC now owns 79,968 shares of the closed-end fund’s stock valued at $327,000 after purchasing an additional 25,725 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of First Trust Specialty Finance and Financial Opportunities Fund during the fourth quarter valued at about $98,000.

Shares of NYSE FGB traded up $0.02 during midday trading on Wednesday, reaching $4.07. The stock had a trading volume of 468 shares, compared to its average volume of 52,232. The company’s 50 day moving average price is $4.05 and its 200 day moving average price is $4.06. First Trust Specialty Finance and Financial Opportunities Fund has a twelve month low of $3.66 and a twelve month high of $4.39.

The company also recently announced a quarterly dividend, which was paid on Monday, February 28th. Investors of record on Wednesday, February 23rd were paid a dividend of $0.083 per share. This represents a $0.33 dividend on an annualized basis and a yield of 8.16%. The ex-dividend date of this dividend was Tuesday, February 22nd.

About First Trust Specialty Finance and Financial Opportunities Fund (Get Rating)

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.

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