First Trust Mortgage Income Fund (NYSE:FMY) Plans Monthly Dividend of $0.08

First Trust Mortgage Income Fund (NYSE:FMY) declared a monthly dividend on Thursday, March 20th, Wall Street Journal reports. Stockholders of record on Tuesday, April 1st will be given a dividend of 0.075 per share on Tuesday, April 15th. This represents a $0.90 annualized dividend and a dividend yield of 7.40%. The ex-dividend date is Tuesday, April 1st.

First Trust Mortgage Income Fund has raised its dividend by an average of 39.3% annually over the last three years.

First Trust Mortgage Income Fund Price Performance

FMY stock traded up $0.03 during midday trading on Friday, hitting $12.16. 4,045 shares of the company’s stock were exchanged, compared to its average volume of 7,515. First Trust Mortgage Income Fund has a 1-year low of $11.48 and a 1-year high of $12.72. The business has a 50-day simple moving average of $12.02 and a two-hundred day simple moving average of $12.11.

About First Trust Mortgage Income Fund

First Trust Mortgage Income Fund is a closed-ended fixed income mutual fund launched and managed by First Trust Advisors L.P. It is co-managed by Brookfield Investment Management Inc The fund invests in fixed income markets. It seeks to invest in fixed income securities including mortgage-backed securities, consisting of pass-through certificates, collateralized mortgage obligations, residential mortgage-backed securities, and commercial mortgage-backed securities.