First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Shares Cross Above 50-Day Moving Average of $3.64

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) shares passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $3.64 and traded as high as $3.72. First Trust Specialty Finance and Financial Opportunities Fund shares last traded at $3.71, with a volume of 33,457 shares trading hands.

First Trust Specialty Finance and Financial Opportunities Fund Price Performance

The stock has a 50 day moving average price of $3.64 and a 200 day moving average price of $3.48.

First Trust Specialty Finance and Financial Opportunities Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Friday, February 23rd were given a dividend of $0.083 per share. This represents a $0.33 dividend on an annualized basis and a yield of 8.96%. The ex-dividend date of this dividend was Thursday, February 22nd. This is a positive change from First Trust Specialty Finance and Financial Opportunities Fund’s previous quarterly dividend of $0.08.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. L.M. Kohn & Company bought a new stake in shares of First Trust Specialty Finance and Financial Opportunities Fund in the 4th quarter worth $42,000. Blue Bell Private Wealth Management LLC grew its holdings in shares of First Trust Specialty Finance and Financial Opportunities Fund by 147.9% in the first quarter. Blue Bell Private Wealth Management LLC now owns 9,087 shares of the closed-end fund’s stock worth $34,000 after acquiring an additional 5,421 shares during the period. Private Advisor Group LLC grew its holdings in shares of First Trust Specialty Finance and Financial Opportunities Fund by 41.4% in the fourth quarter. Private Advisor Group LLC now owns 267,525 shares of the closed-end fund’s stock worth $958,000 after acquiring an additional 78,350 shares during the period. Matisse Capital lifted its position in First Trust Specialty Finance and Financial Opportunities Fund by 2.3% during the fourth quarter. Matisse Capital now owns 248,189 shares of the closed-end fund’s stock valued at $889,000 after purchasing an additional 5,477 shares in the last quarter. Finally, PFG Investments LLC purchased a new position in First Trust Specialty Finance and Financial Opportunities Fund during the first quarter valued at $2,089,000.

About First Trust Specialty Finance and Financial Opportunities Fund

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.