First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Short Interest Up 47.3% in October

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) was the target 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 days-to-cover ratio is presently 0.9 days.

First Trust Specialty Finance and Financial Opportunities Fund Stock Up 1.8 %

Shares of NYSE:FGB traded up $0.08 during midday trading on Friday, reaching $4.25. The company’s stock had a trading volume of 76,718 shares, compared to its average volume of 53,580. First Trust Specialty Finance and Financial Opportunities Fund has a twelve month low of $3.26 and a twelve month high of $4.29. The stock has a fifty day moving average of $4.10 and a 200 day moving average of $3.96.

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 paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.41%.

Institutional Trading of First Trust Specialty Finance and Financial Opportunities Fund

A number of hedge funds have recently added to or reduced their stakes in the company. Alpine Global Management LLC boosted its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 11.9% during the first quarter. Alpine Global Management LLC now owns 100,000 shares of the closed-end fund’s stock worth $377,000 after buying an additional 10,654 shares in the last quarter. Jane Street Group LLC purchased a new position in First Trust Specialty Finance and Financial Opportunities Fund during the third quarter valued at $48,000. L.M. Kohn & Company purchased a new position in First Trust Specialty Finance and Financial Opportunities Fund during the third quarter valued at $48,000. Atomi Financial Group Inc. lifted its holdings 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. Finally, Shaker Financial Services LLC purchased a new position in First Trust Specialty Finance and Financial Opportunities Fund during the second quarter valued at $52,000.

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.