First Trust/Fidac Mortgage Income Fund shares had a trading volume of 1,485 in the last trading session. Shares saw a steep decrease in trading volume of 78.10% under the normal average daily volume.
Investors are more bearish on First Trust/Fidac Mortgage Income Fund of late if you take into consideration the rise in short interest. The stock saw a rise in short interest of 1,379.05% between October 13, 2017 and October 31, 2017. Short shares increased from 1,265 to 18,710 over that timeframe. With short interest at 18,710 and short average daily volume at 8,573, the short-interest ratio is 2.0 and the percentage of shorted shares is 0.00% as of October 31.
These funds have shifted positions in (FMY). Advisor Group, Inc. augmented its holdings by buying 15 shares an increase of 1.4% from 06/30/2017 to 09/30/2017. Advisor Group, Inc. now controls 1,100 shares with a value of $16,000. The total value of its holdings increased 6.7%. Icon Advisers Inc/co downsized its investment by selling 8,000 shares a decrease of 10.1% in the quarter. Icon Advisers Inc/co owns 71,080 shares valued at $1,014,000. The value of the position overall is down by 9.5%.
As of the end of the quarter Wells Fargo & Company/mn had acquired a total of 34,029 shares growing its stake by 60.5%. The value of the investment in (FMY) went from $796,000 to $1,287,000 increasing 61.7% for the reporting period. Raymond James & Associates reduced its stake by selling 2,178 shares a decrease of 15.0%. Raymond James & Associates currently owns 12,368 shares worth $176,000. The value of the position overall is down by 14.6%.
The company is so far trading down since yesterday’s close of 14.42. First Trust/Fidac Mortgage Income Fund’s P/E ratio is N/A and market capitalization is 60.42M.
First Trust/FIDAC Mortgage Income Fund (the Fund) is a diversified closed-end management investment company. The Fund’s primary investment objective is to seek a high-level of current income. As a secondary objective, the Fund seeks to preserve capital. The Fund pursues its objectives by investing primarily in mortgage-backed securities representing part ownership in a pool of either residential or commercial mortgage loans that, in the opinion of the Fund’s Sub-Advisor (Fixed Income Discount Advisory Company), offer an attractive combination of credit quality, yield and maturity. These securities may be issued by government agencies or by private originators or issuers in the form of pass-through certificates, collateralized mortgage obligations, residential mortgage-backed securities or commercial mortgage-backed securities. The Fund may leverage to an aggregate amount of up to 33.033% of the Fund’s managed assets..