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 target of a large decline in short interest in November. As of November 15th, there was short interest totalling 47,100 shares, a decline of 14.1% from the October 31st total of 54,800 shares. Based on an average daily volume of 64,000 shares, the days-to-cover ratio is currently 0.7 days.

First Trust Specialty Finance and Financial Opportunities Fund Stock Performance

Shares of NYSE:FGB opened at $4.28 on Friday. First Trust Specialty Finance and Financial Opportunities Fund has a 12-month low of $3.26 and a 12-month high of $4.29. The company’s 50 day moving average price is $4.14 and its two-hundred day moving average price is $3.99.

First Trust Specialty Finance and Financial Opportunities Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 22nd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 9.35%. The ex-dividend date is Friday, November 22nd.

Hedge Funds Weigh In On First Trust Specialty Finance and Financial Opportunities Fund

A number of hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in First Trust Specialty Finance and Financial Opportunities Fund during the first quarter valued at approximately $52,000. Atomi Financial Group Inc. bought a new position in First Trust Specialty Finance and Financial Opportunities Fund in the second quarter valued at about $372,000. Commonwealth Equity Services LLC raised its stake in First Trust Specialty Finance and Financial Opportunities Fund by 9.3% during the second quarter. Commonwealth Equity Services LLC now owns 173,378 shares of the closed-end fund’s stock worth $674,000 after acquiring an additional 14,718 shares in the last quarter. Shaker Financial Services LLC bought a new position in shares of First Trust Specialty Finance and Financial Opportunities Fund in the second quarter worth about $52,000. Finally, Good Life Advisors LLC boosted its stake in shares of First Trust Specialty Finance and Financial Opportunities Fund by 102.8% in the 3rd quarter. Good Life Advisors LLC now owns 107,026 shares of the closed-end fund’s stock valued at $436,000 after purchasing an additional 54,240 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.