First Trust Mortgage Income Fund (NYSE:FMY) Stock Price Down 0.4% – Time to Sell?

First Trust Mortgage Income Fund (NYSE:FMY)’s share price fell 0.4% during mid-day trading on Wednesday . The company traded as low as $12.06 and last traded at $12.1050. 3,958 shares traded hands during trading, a decline of 28% from the average session volume of 5,495 shares. The stock had previously closed at $12.15.

First Trust Mortgage Income Fund Stock Down 0.4%

The business’s 50 day simple moving average is $12.09 and its 200 day simple moving average is $12.15.

First Trust Mortgage Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd will be paid a dividend of $0.065 per share. This represents a c) annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Monday, February 2nd.

Hedge Funds Weigh In On First Trust Mortgage Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in First Trust Mortgage Income Fund during the 2nd quarter valued at $31,000. Jones Financial Companies Lllp increased its position in First Trust Mortgage Income Fund by 29.4% during the third quarter. Jones Financial Companies Lllp now owns 18,267 shares of the company’s stock valued at $223,000 after acquiring an additional 4,154 shares during the last quarter. Uhlmann Price Securities LLC raised its stake in shares of First Trust Mortgage Income Fund by 45.7% in the fourth quarter. Uhlmann Price Securities LLC now owns 23,674 shares of the company’s stock valued at $288,000 after acquiring an additional 7,423 shares during the period. Finally, Noble Wealth Management PBC lifted its holdings in shares of First Trust Mortgage Income Fund by 60.4% in the 4th quarter. Noble Wealth Management PBC now owns 46,681 shares of the company’s stock worth $567,000 after acquiring an additional 17,572 shares during the last quarter.

About First Trust Mortgage Income Fund

First Trust Mortgage Income Fund (NYSE:FMY) is a closed-end management investment company that seeks to provide high current income by investing primarily in a diversified portfolio of mortgage-related securities. The fund’s investment strategy focuses on residential and commercial mortgage-backed securities (MBS) issued or guaranteed by U.S. government agencies, government-sponsored entities and private issuers, as well as other mortgage-related assets such as collateralized mortgage obligations (CMOs) and mortgage passthrough securities.

Since commencing operations in mid-2002, FMY has employed a disciplined, fundamental research process to construct a portfolio designed to capture income opportunities across the U.S.