First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Stock Price Passes Above Fifty Day Moving Average of $2.90
2 min read
First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $2.90 and traded as high as $3.34. First Trust Specialty Finance and Financial Opportunities Fund shares last traded at $3.23, with a volume of 80,914 shares.
The firm has a fifty day moving average price of $2.90 and a two-hundred day moving average price of $2.98.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 1st. Stockholders of record on Monday, November 23rd were issued a $0.083 dividend. The ex-dividend date was Friday, November 20th. This represents a $0.33 annualized dividend and a dividend yield of 10.28%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Avantax Advisory Services Inc. purchased a new position in First Trust Specialty Finance and Financial Opportunities Fund during the 3rd quarter worth $42,000. Almitas Capital LLC purchased a new position in First Trust Specialty Finance and Financial Opportunities Fund during the 3rd quarter worth $46,000. Finally, Morgan Stanley increased its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 62.7% during the 3rd quarter. Morgan Stanley now owns 159,199 shares of the closed-end fund’s stock worth $365,000 after purchasing an additional 61,346 shares during the period.
About First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB)
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.
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