Investment Advisor Reduces Stake in First Trust Mortgage Income Fund

summarizeSummary

Sit Investment Associates and Sit Fixed Income Advisors II, LLC, a major institutional investor, reported selling approximately $848,000 worth of shares in First Trust Mortgage Income Fund, reducing their beneficial ownership to 52.8%.

check_boxKey Events

• Significant Share Sales

  Sit Investment Associates and Sit Fixed Income Advisors II, LLC sold 71,920 shares of common stock for a total of approximately $848,068 over the last 60 days.

• Reduced Beneficial Ownership

  Following these transactions, the investment advisors' beneficial ownership in First Trust Mortgage Income Fund stands at 2,225,186 shares, representing 52.8% of the outstanding common stock.

• Sales Near 52-Week Low

  The sales occurred at prices ranging from $11.70 to $12.15, with some transactions taking place while the stock was trading near its 52-week low of $11.65.

auto_awesomeAnalysis

Sit Investment Associates and Sit Fixed Income Advisors II, LLC, which collectively hold a majority stake in First Trust Mortgage Income Fund, have reported significant sales of common stock. Over the past 60 days, the investment advisors sold shares totaling approximately $848,000. While the firms still maintain a substantial 52.8% beneficial ownership, these sales represent a reduction in their position. The transactions occurred while the stock was trading near its 52-week low, which could be interpreted as a strategic rebalancing by the institutional investor.