07/10/2022

UDS-Biz

Growing Your Income

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Sees Large Decline in Short Interest

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGBGet Rating) was the target of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 3,400 shares, a drop of 59.0% from the March 31st total of 8,300 shares. Based on an average daily trading volume, of 48,500 shares, the short-interest ratio is currently 0.1 days.

NYSE FGB traded down $0.04 during mid-day trading on Friday, reaching $3.99. 21,148 shares of the stock were exchanged, compared to its average volume of 49,992. First Trust Specialty Finance and Financial Opportunities Fund has a one year low of $3.66 and a one year high of $4.39. The stock has a 50 day simple moving average of $4.06 and a 200-day simple moving average of $4.07.

The company also recently announced a quarterly dividend, which was paid on Monday, February 28th. Investors of record on Wednesday, February 23rd were paid a dividend of $0.083 per share. This represents a $0.33 dividend on an annualized basis and a yield of 8.32%. The ex-dividend date of this dividend was Tuesday, February 22nd.

A number of hedge funds and other institutional investors have recently made changes to their positions in FGB. Wells Fargo & Company MN grew its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 15.2% in the second quarter. Wells Fargo & Company MN now owns 22,312 shares of the closed-end fund’s stock worth $90,000 after purchasing an additional 2,949 shares during the period. Morgan Stanley grew its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 5.5% in the third quarter. Morgan Stanley now owns 112,907 shares of the closed-end fund’s stock worth $449,000 after purchasing an additional 5,866 shares during the period. UBS Group AG acquired a new stake in First Trust Specialty Finance and Financial Opportunities Fund in the third quarter worth $27,000. LPL Financial LLC grew its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 6.3% in the third quarter. LPL Financial LLC now owns 248,551 shares of the closed-end fund’s stock worth $988,000 after purchasing an additional 14,648 shares during the period. Finally, SYM FINANCIAL Corp grew its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 42.4% in the first quarter. SYM FINANCIAL Corp now owns 74,975 shares of the closed-end fund’s stock worth $313,000 after purchasing an additional 22,326 shares during the period.

About First Trust Specialty Finance and Financial Opportunities Fund (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.

Featured Stories

Want More Great Investing Ideas?

Receive News & Ratings for First Trust Specialty Finance and Financial Opportunities Fund Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for First Trust Specialty Finance and Financial Opportunities Fund and related companies with MarketBeat.com’s FREE daily email newsletter.