First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Stock Price Passes Above Fifty Day Moving Average – What’s Next?

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB)’s share price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $3.95 and traded as high as $4.09. First Trust Specialty Finance and Financial Opportunities Fund shares last traded at $4.07, with a volume of 31,694 shares trading hands.

First Trust Specialty Finance and Financial Opportunities Fund Stock Down 1.2 %

The company’s 50 day simple moving average is $3.95 and its 200 day simple moving average is $3.86.

First Trust Specialty Finance and Financial Opportunities Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 22nd were given a $0.10 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 9.88%.

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

Several hedge funds have recently made changes to their positions in FGB. Commonwealth Equity Services LLC raised its position in First Trust Specialty Finance and Financial Opportunities Fund by 9.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 173,378 shares of the closed-end fund’s stock valued at $674,000 after purchasing an additional 14,718 shares during the last quarter. Shaker Financial Services LLC acquired a new stake in shares of First Trust Specialty Finance and Financial Opportunities Fund during the second quarter worth about $52,000. Atomi Financial Group Inc. purchased a new position in shares of First Trust Specialty Finance and Financial Opportunities Fund during the second quarter worth about $372,000. Virtu Financial LLC purchased a new position in shares of First Trust Specialty Finance and Financial Opportunities Fund during the first quarter worth about $52,000. Finally, Alpine Global Management LLC increased its position in 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 valued at $377,000 after acquiring an additional 10,654 shares during the period.

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.