FMY Stock Summary and Trading Ideas (First Trust Mtg Income | NYSE:FMY)

First Trust Mortgage Income Fund is a diversified, closed-end management investment company. The Fund's primary investment objective is to seek a high level of current income. As a secondary objective, the Fund will seek to preserve capital. The Fund will pursue its objectives by investing primarily in mortgage-backed securities representing part ownership in a pool of either residential or commercial mortgage loans that, in the opinion of the Fund's investment sub-advisor, offer an attractive combination of credit quality, yield and maturity.

First Trust Mtg Income trades on the NYSE stock market under the symbol FMY.

As of April 19, 2024, FMY stock price declined to $11.65 with 1,876 million shares trading.

FMY has a market cap of $49.06 million. This is considered a Sub-Micro Cap stock.

In the last 3 years, FMY stock traded as high as $14.08 and as low as $10.52.

FMY has underperformed the market in the last year with a return of +8.5%, while the SPY ETF gained +21.2%. In the last 3 month period, FMY fell short of the market, returning -0.8%, while SPY returned +4.3%. However, in the most recent 2 weeks FMY has outperformed the stock market by returning -3.3%, while SPY returned -3.5%.

FMY support price is $11.56 and resistance is $11.82 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that FMY stock will trade within this expected range on the day.