Short Interest in First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Declines By 38.1%

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) saw a significant decline in short interest in February. As of February 15th, there was short interest totalling 5,200 shares, a decline of 38.1% from the January 31st total of 8,400 shares. Based on an average daily volume of 36,900 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Sit Investment Associates Inc. grew its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 255.1% in the fourth quarter. Sit Investment Associates Inc. now owns 1,010,916 shares of the closed-end fund’s stock worth $4,256,000 after purchasing an additional 726,220 shares during the period. Rivernorth Capital Management LLC boosted its position in shares of First Trust Specialty Finance and Financial Opportunities Fund by 86.3% in the 3rd quarter. Rivernorth Capital Management LLC now owns 393,429 shares of the closed-end fund’s stock worth $1,601,000 after purchasing an additional 182,207 shares in the last quarter. CF Capital LLC purchased a new stake in shares of First Trust Specialty Finance and Financial Opportunities Fund in the 4th quarter worth approximately $756,000. Raymond James Financial Inc. bought a new position in First Trust Specialty Finance and Financial Opportunities Fund during the 4th quarter valued at approximately $307,000. Finally, Absolute Investment Advisers LLC purchased a new position in First Trust Specialty Finance and Financial Opportunities Fund during the fourth quarter valued at $221,000.

First Trust Specialty Finance and Financial Opportunities Fund Trading Up 0.8 %

FGB opened at $4.45 on Tuesday. The stock has a fifty day simple moving average of $4.38 and a two-hundred day simple moving average of $4.20. First Trust Specialty Finance and Financial Opportunities Fund has a 12-month low of $3.49 and a 12-month high of $4.64.

First Trust Specialty Finance and Financial Opportunities Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 24th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.00%. The ex-dividend date of this dividend was Monday, February 24th.

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.