First Trust Mortgage Income Stock Price, News & Analysis

First Trust Mortgage Income Fund (NYSE: FMY) has declared its monthly common share distribution of $0.075 per share for October, payable on October 15, 2024, to shareholders of record as of October 1, 2024. The ex-dividend date is expected to be October 1, 2024.

Key details:

• Distribution Rate based on September 18, 2024 NAV of $13.07: 6.89%
• Distribution Rate based on September 18, 2024 closing market price of $12.55: 7.17%

The Fund seeks to provide a high level of current income and preserve capital by investing primarily in mortgage-backed securities. First Trust Advisors L.P. serves as the Fund's investment advisor, with collective assets under management of approximately $241 billion as of August 31, 2024.

First Trust Mortgage Income Fund (NYSE: FMY) has decreased its monthly common share distribution to $0.075 per share from $0.0825, payable on September 16, 2024. This represents a 9.09% reduction from the previous distribution. The new distribution rate is 6.98% based on the August 19, 2024 NAV of $12.89, and 7.23% based on the closing market price of $12.45.

The Fund's management believes this reduction will better align the distribution with the Fund's current earning potential while balancing its objectives of providing high income and preserving capital. FMY invests primarily in mortgage-backed securities and is managed by First Trust Advisors L.P., which has approximately $235 billion in assets under management as of July 31, 2024.

First Trust Mortgage Income Fund (NYSE: FMY) has declared its monthly common share distribution of $0.0825 per share for August, payable on August 15, 2024, to shareholders of record as of August 1, 2024. The ex-dividend date is expected to be August 1, 2024. Based on the July 19, 2024 NAV of $12.72, the distribution rate is 7.78%, and based on the closing market price of $12.01, it's 8.24%.

FMY is a diversified, closed-end management investment company seeking high current income and capital preservation. It invests primarily in mortgage-backed securities. First Trust Advisors L.P. serves as the Fund's investment advisor, with approximately $228 billion in assets under management as of June 30, 2024.

First Trust Mortgage Income Fund (NYSE: FMY) has announced a monthly common share distribution of $0.0825 per share, payable on July 15, 2024, to shareholders recorded by July 1, 2024. The ex-dividend date is also July 1, 2024. The distribution rate is 7.80% based on the June 18, 2024 NAV of $12.69, and 8.24% based on the closing market price of $12.02 on the same date. The fund invests primarily in mortgage-backed securities to provide high current income and preserve capital. The exact source and tax status of distributions for 2024 will be confirmed post-year-end. Principal risk factors include market risk, credit risk, and interest rate risk among others, which could impact the fund’s value and performance. Past performance is not indicative of future results.

First Trust Mortgage Income Fund (NYSE: FMY) has announced its monthly common share distribution of $0.0825 per share for June 2024. The payment will be made on June 17, 2024, to shareholders recorded as of June 3, 2024. The ex-dividend date is June 3, 2024. The distribution rate based on the May 17, 2024 NAV of $12.57 is 7.88%, and 8.18% based on the closing market price of $12.11. This distribution may include net investment income, net short-term realized capital gains, or return of capital. The final tax status will be provided on Form 1099-DIV post-2024. The Fund aims to offer high current income and preserve capital by investing in mortgage-backed securities. Risks include market fluctuations, interest rate changes, and credit risk, among others.