24/09/2022

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

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGBGet Rating) was the recipient of a large decline in short interest in March. As of March 31st, there was short interest totalling 8,300 shares, a decline of 70.4% from the March 15th total of 28,000 shares. Based on an average daily trading volume, of 52,800 shares, the days-to-cover ratio is currently 0.2 days.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nova R Wealth Inc. acquired a new position in shares of First Trust Specialty Finance and Financial Opportunities Fund during the 4th quarter worth approximately $638,000. Shaker Financial Services LLC increased its holdings in shares of First Trust Specialty Finance and Financial Opportunities Fund by 91.0% in the third quarter. Shaker Financial Services LLC now owns 116,118 shares of the closed-end fund’s stock valued at $461,000 after purchasing an additional 55,337 shares during the last quarter. Wolverine Asset Management LLC bought a new position in shares of First Trust Specialty Finance and Financial Opportunities Fund in the third quarter valued at about $215,000. LPL Financial LLC lifted its stake in shares of First Trust Specialty Finance and Financial Opportunities Fund by 10.8% during the 4th quarter. LPL Financial LLC now owns 275,310 shares of the closed-end fund’s stock worth $1,126,000 after buying an additional 26,759 shares during the last quarter. Finally, Logan Stone Capital LLC bought a new stake in shares of First Trust Specialty Finance and Financial Opportunities Fund during the 4th quarter worth about $105,000.

Shares of First Trust Specialty Finance and Financial Opportunities Fund stock traded up $0.02 during trading hours on Wednesday, reaching $4.07. 468 shares of the company’s stock were exchanged, compared to its average volume of 52,232. The company has a 50 day moving average of $4.05 and a two-hundred day moving average of $4.06. First Trust Specialty Finance and Financial Opportunities Fund has a fifty-two week low of $3.66 and a fifty-two week high of $4.39.

The company also recently declared a quarterly dividend, which was paid on Monday, February 28th. Shareholders of record on Wednesday, February 23rd were given a dividend of $0.083 per share. This represents a $0.33 annualized dividend and a yield of 8.16%. The ex-dividend date was Tuesday, February 22nd.

First Trust Specialty Finance and Financial Opportunities Fund Company Profile (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.

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