First Trust Mortgage Income Fund (NYSE:FMY) to Issue Monthly Dividend of $0.06

First Trust Mortgage Income Fund (NYSE:FMY – Get Rating) declared a monthly dividend on Monday, January 23rd, Zacks reports. Stockholders of record on Thursday, February 2nd will be given a dividend of 0.055 per share on Wednesday, February 15th. This represents a $0.66 annualized dividend and a dividend yield of 5.71%. The ex-dividend date is Wednesday, February 1st.

First Trust Mortgage Income Fund has decreased its dividend payment by an average of 2.9% per year over the last three years.

First Trust Mortgage Income Fund Stock Performance

FMY opened at $11.55 on Wednesday. The business has a fifty day simple moving average of $11.53 and a 200-day simple moving average of $11.51. First Trust Mortgage Income Fund has a 52 week low of $10.52 and a 52 week high of $13.56.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in First Trust Mortgage Income Fund stock. Advisor Group Holdings Inc. lifted its stake in First Trust Mortgage Income Fund (NYSE:FMY – Get Rating) by 16.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,892 shares of the company’s stock after purchasing an additional 1,567 shares during the period. Advisor Group Holdings Inc.’s holdings in First Trust Mortgage Income Fund were worth $134,000 at the end of the most recent quarter.

About First Trust Mortgage Income Fund

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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.