08/10/2022

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First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Short Interest Up 552.9% in April

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGBGet Rating) was the target of a large increase in short interest in April. As of April 30th, there was short interest totalling 22,200 shares, an increase of 552.9% from the April 15th total of 3,400 shares. Based on an average daily volume of 40,700 shares, the days-to-cover ratio is presently 0.5 days.

FGB stock traded down $0.05 during trading on Thursday, reaching $3.64. 57,723 shares of the company were exchanged, compared to its average volume of 49,095. The company has a 50-day moving average of $4.04 and a two-hundred day moving average of $4.06. First Trust Specialty Finance and Financial Opportunities Fund has a twelve month low of $3.62 and a twelve month high of $4.39.

A number of hedge funds have recently added to or reduced their stakes in FGB. UBS Group AG acquired a new position in First Trust Specialty Finance and Financial Opportunities Fund in the 3rd quarter valued at approximately $27,000. Wells Fargo & Company MN increased its position in First Trust Specialty Finance and Financial Opportunities Fund by 15.2% in the 2nd quarter. Wells Fargo & Company MN now owns 22,312 shares of the closed-end fund’s stock valued at $90,000 after acquiring an additional 2,949 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of First Trust Specialty Finance and Financial Opportunities Fund during the fourth quarter worth $98,000. Logan Stone Capital LLC acquired a new stake in shares of First Trust Specialty Finance and Financial Opportunities Fund during the fourth quarter worth $105,000. Finally, Csenge Advisory Group acquired a new stake in shares of First Trust Specialty Finance and Financial Opportunities Fund during the first quarter worth $138,000.

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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