First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Sees Large Increase in Short Interest

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 8,400 shares, a growth of 20.0% from the January 15th total of 7,000 shares. Based on an average daily volume of 39,600 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of First Trust Specialty Finance and Financial Opportunities Fund

Large investors have recently modified their holdings of the business. Sit Investment Associates Inc. grew its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 255.1% during the 4th quarter. Sit Investment Associates Inc. now owns 1,010,916 shares of the closed-end fund’s stock valued at $4,256,000 after buying an additional 726,220 shares during the last quarter. Rivernorth Capital Management LLC increased its position in First Trust Specialty Finance and Financial Opportunities Fund by 86.3% during 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. Raymond James Financial Inc. acquired a new position in First Trust Specialty Finance and Financial Opportunities Fund in the 4th quarter valued at about $307,000. Good Life Advisors LLC lifted its holdings in 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. Finally, Absolute Investment Advisers LLC acquired a new stake in shares of First Trust Specialty Finance and Financial Opportunities Fund during the 4th quarter worth about $221,000.

First Trust Specialty Finance and Financial Opportunities Fund Stock Up 1.7 %

NYSE:FGB opened at $4.50 on Friday. First Trust Specialty Finance and Financial Opportunities Fund has a 52-week low of $3.39 and a 52-week high of $4.55. The stock has a fifty day simple moving average of $4.33 and a 200-day simple moving average of $4.15.

First Trust Specialty Finance and Financial Opportunities Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 24th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 8.90%. The ex-dividend date is 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.