First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Short Interest Update

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 54,800 shares, a growth of 47.3% from the October 15th total of 37,200 shares. Based on an average daily volume of 59,700 shares, the short-interest ratio is currently 0.9 days.

First Trust Specialty Finance and Financial Opportunities Fund Price Performance

First Trust Specialty Finance and Financial Opportunities Fund stock traded up $0.08 during midday trading on Friday, hitting $4.25. 76,718 shares of the company’s stock were exchanged, compared to its average volume of 53,580. The stock has a 50-day moving average price of $4.10 and a two-hundred day moving average price of $3.96. First Trust Specialty Finance and Financial Opportunities Fund has a 52-week low of $3.26 and a 52-week high of $4.29.

First Trust Specialty Finance and Financial Opportunities Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 9.41%. The ex-dividend date of this dividend is Friday, November 22nd.

Institutional Investors Weigh In On First Trust Specialty Finance and Financial Opportunities Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rivernorth Capital Management LLC grew its stake in First Trust Specialty Finance and Financial Opportunities Fund by 81.8% in the 3rd quarter. Rivernorth Capital Management LLC now owns 384,102 shares of the closed-end fund’s stock worth $1,563,000 after buying an additional 172,880 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in First Trust Specialty Finance and Financial Opportunities Fund by 9.3% in the second quarter. Commonwealth Equity Services LLC now owns 173,378 shares of the closed-end fund’s stock valued at $674,000 after acquiring an additional 14,718 shares during the last quarter. Atomi Financial Group Inc. raised its position in First Trust Specialty Finance and Financial Opportunities Fund by 13.0% during the third quarter. Atomi Financial Group Inc. now owns 107,998 shares of the closed-end fund’s stock valued at $440,000 after purchasing an additional 12,408 shares in the last quarter. Good Life Advisors LLC lifted its stake in First Trust Specialty Finance and Financial Opportunities Fund by 102.8% during the third quarter. Good Life Advisors LLC now owns 107,026 shares of the closed-end fund’s stock worth $436,000 after purchasing an additional 54,240 shares during the last quarter. Finally, Alpine Global Management LLC boosted its holdings in shares of First Trust Specialty Finance and Financial Opportunities Fund by 11.9% in the 1st quarter. Alpine Global Management LLC now owns 100,000 shares of the closed-end fund’s stock worth $377,000 after purchasing an additional 10,654 shares in the last quarter.

First Trust Specialty Finance and Financial Opportunities Fund Company Profile

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.