First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) Share Price Passes Above Fifty Day Moving Average – Should You Sell?

Shares of First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $4.05 and traded as high as $4.08. First Trust Specialty Finance and Financial Opportunities Fund shares last traded at $4.08, with a volume of 38,708 shares traded.

First Trust Specialty Finance and Financial Opportunities Fund Stock Performance

The business has a 50-day moving average price of $4.06 and a 200-day moving average price of $3.94.

First Trust Specialty Finance and Financial Opportunities Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 9.80%. The ex-dividend date was Thursday, August 22nd.

Institutional Investors Weigh In On First Trust Specialty Finance and Financial Opportunities Fund

Several large investors have recently modified their holdings of the business. Commonwealth Equity Services LLC increased its holdings in First Trust Specialty Finance and Financial Opportunities Fund by 7.1% during the first quarter. Commonwealth Equity Services LLC now owns 158,660 shares of the closed-end fund’s stock valued at $598,000 after buying an additional 10,506 shares during the period. Private Advisor Group LLC increased its holdings in shares of First Trust Specialty Finance and Financial Opportunities Fund by 26.0% in the 1st quarter. Private Advisor Group LLC now owns 337,075 shares of the closed-end fund’s stock valued at $1,271,000 after acquiring an additional 69,550 shares during the period. Alpine Global Management LLC increased its holdings in shares of 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. Virtu Financial LLC bought a new position in shares of First Trust Specialty Finance and Financial Opportunities Fund in the 1st quarter worth $52,000. Finally, Atomi Financial Group Inc. bought a new stake in First Trust Specialty Finance and Financial Opportunities Fund during the second quarter valued at about $372,000.

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.