First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Short Interest Down 82.9% in May

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB – Get Rating) was the target of a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 3,800 shares, a decline of 82.9% from the April 30th total of 22,200 shares. Based on an average daily trading volume, of 35,900 shares, the short-interest ratio is presently 0.1 days.

Shares of FGB stock traded up $0.03 on Wednesday, reaching $3.42. 7,941 shares of the company’s stock were exchanged, compared to its average volume of 48,656. The company’s fifty day simple moving average is $3.96 and its 200 day simple moving average is $4.02. First Trust Specialty Finance and Financial Opportunities Fund has a 52 week low of $3.32 and a 52 week high of $4.39.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Monday, May 23rd will be given a dividend of $0.0825 per share. The ex-dividend date of this dividend is Friday, May 20th. This represents a $0.33 annualized dividend and a dividend yield of 9.65%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Nova R Wealth Inc. bought a new stake in First Trust Specialty Finance and Financial Opportunities Fund during the 4th quarter valued at $638,000. Wolverine Asset Management LLC bought a new stake in shares of First Trust Specialty Finance and Financial Opportunities Fund in the third quarter valued at about $215,000. Strategic Wealth Advisors Group LLC purchased a new stake in First Trust Specialty Finance and Financial Opportunities Fund in the first quarter worth about $221,000. Csenge Advisory Group bought a new position in First Trust Specialty Finance and Financial Opportunities Fund during the 1st quarter worth about $138,000. Finally, LPL Financial LLC grew its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 10.8% during the 4th quarter. LPL Financial LLC now owns 275,310 shares of the closed-end fund’s stock worth $1,126,000 after acquiring an additional 26,759 shares in the last quarter.

First Trust Specialty Finance and Financial Opportunities Fund Company Profile (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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