Short Interest in First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Drops By 14.1%

First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) was the target of a large decline in short interest during the month of 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 short-interest ratio is currently 0.7 days.

First Trust Specialty Finance and Financial Opportunities Fund Price Performance

Shares of First Trust Specialty Finance and Financial Opportunities Fund stock opened at $4.28 on Tuesday. First Trust Specialty Finance and Financial Opportunities Fund has a 12 month low of $3.26 and a 12 month high of $4.35. The firm’s fifty day simple moving average is $4.14 and its 200-day simple moving average is $3.99.

First Trust Specialty Finance and Financial Opportunities Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 22nd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.40 annualized dividend and a dividend yield of 9.35%.

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

Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new stake in First Trust Specialty Finance and Financial Opportunities Fund in the first quarter valued at about $52,000. Atomi Financial Group Inc. purchased a new position in shares of First Trust Specialty Finance and Financial Opportunities Fund during the 2nd quarter worth approximately $372,000. Commonwealth Equity Services LLC raised its position in shares of First Trust Specialty Finance and Financial Opportunities Fund by 9.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 173,378 shares of the closed-end fund’s stock worth $674,000 after purchasing an additional 14,718 shares during the last quarter. Shaker Financial Services LLC purchased a new stake in First Trust Specialty Finance and Financial Opportunities Fund in the 2nd quarter valued at approximately $52,000. Finally, Good Life Advisors LLC grew its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 102.8% during the 3rd quarter. Good Life Advisors LLC now owns 107,026 shares of the closed-end fund’s stock valued at $436,000 after buying an additional 54,240 shares during the last quarter.

About First Trust Specialty Finance and Financial Opportunities Fund

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.