First Trust/FIDAC Mortgage Income Fund (NYSE:FMY) Shares Up 0.2% After Dividend Announcement

First Trust/FIDAC Mortgage Income Fund (NYSE:FMY) shot up 0.2% on Tuesday after the company announced a dividend. The company traded as high as $14.08 and last traded at $14.08, 2,518 shares were traded during mid-day trading. A decline of 68% from the average session volume of 7,825 shares. The stock had previously closed at $14.05.

The newly announced dividend which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 5.09%.

The stock’s 50-day simple moving average is $14.01 and its 200 day simple moving average is $13.91.

A number of hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC acquired a new stake in shares of First Trust/FIDAC Mortgage Income Fund during the second quarter worth $141,000. Royal Bank of Canada lifted its holdings in shares of First Trust/FIDAC Mortgage Income Fund by 19.2% during the second quarter. Royal Bank of Canada now owns 7,360 shares of the company’s stock worth $103,000 after buying an additional 1,187 shares in the last quarter. Karpus Management Inc. acquired a new stake in shares of First Trust/FIDAC Mortgage Income Fund during the third quarter worth $778,000. Finally, Kovack Advisors Inc. acquired a new stake in shares of First Trust/FIDAC Mortgage Income Fund during the third quarter worth $287,000.

About First Trust/FIDAC Mortgage Income Fund (NYSE:FMY)

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.

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