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First Trust Mortgage Income Fund (FMY)

Financial Services | Asset Management | Wheaton, United States | NYSE
11.64 USD -0.07 (-0.587%) ⇩ (Aug. 28, 2026, 3:56 p.m. EDT)
After hours: 11.64
Short-term:★★⯪☆☆Long-term:★⯪☆☆☆Dividends:★★⯪☆☆
Hot Take ↕ | Aug. 22, 2026, 2:57 a.m. EDT

The immediate outlook is flat due to a severe disconnect between the fund's income generation and its cost structure. While the headline yield looks attractive at nearly 7%, the payout ratio exceeds 112%, meaning the fund is distributing more cash than it earns in profit. This is a classic sign of NAV erosion, where distributions are likely funded by selling assets or dipping into capital rather than sustainable earnings. Consequently, the long-term investment case is weak; the price has declined significantly over the last decade, and the most recent annual performance was negative, confirming a deteriorating trend despite a slight recovery in the prior year. The recent price action shows the stock hovering near its 52-week lows with minimal momentum, suggesting the market has already priced in these fundamental flaws. For investors seeking reliable income, the risk of dividend cuts to preserve capital outweighs the current yield.
Model Selection — Backtest MAE (log-scale, lower is better)
ModelMAE
AutoTheta ✓0.008644
MSTL0.008691
AutoETS0.009655
AutoARIMA0.009657

Forecast horizon: 45 days | Selected: AutoTheta

Forecast Reliability
Score 70%
H-stat 1.10
Ljung-Box p 0.000
Jarque-Bera p 0.007
Excess Kurtosis 0.87
Attribute Value
Sector Financial Services
Ex Dividend Date 2026-08-31
Last Dividend Date 2026-08-02
Debt to Equity Ratio 0.048
Revenue per Share 0.736
Market Cap 49,019,592
Trailing P/E 16.39
Beta 0.26
Profit Margins 95.62%
Website https://www.ftportfolios.com/retail/CEF/CEFsummary.aspx?Ticker=FMY

Dividend Data

Yield Summary
Last Yield 1yr Yield 3yr Avg 5yr Avg
0.57% 6.58% 7.33% 6.61%
Dividend History
Date Dividend Yield %
2026-08-03 0.065 0.565217
2026-07-01 0.065 0.555556
2026-06-01 0.065 0.563747
2026-05-01 0.065 0.546219
2026-04-01 0.065 0.556031
2026-03-02 0.065 0.534979
2026-02-02 0.065 0.533662
2025-12-31 0.065 0.534979
2025-12-01 0.065 0.539419
2025-11-03 0.065 0.541667
2025-10-01 0.065 0.535420
2025-09-02 0.070 0.570962
2025-08-01 0.070 0.571895
2025-07-01 0.070 0.572363
2025-06-02 0.070 0.581395
2025-05-01 0.075 0.620347
2025-04-01 0.075 0.614754
2025-03-03 0.075 0.617792
2025-02-03 0.075 0.622924
2024-12-31 0.075 0.625521
2024-12-02 0.075 0.622407
2024-11-01 0.075 0.621891
2024-10-01 0.075 0.602410
2024-09-03 0.075 0.612245
2024-08-01 0.083 0.676998
2024-07-01 0.083 0.696893
2024-06-03 0.083 0.717993
2024-05-01 0.083 0.699831
2024-04-01 0.083 0.684818
2024-03-01 0.083 0.715517
2024-02-01 0.083 0.691091
2023-12-28 0.083 0.684254
2023-12-01 0.083 0.739092
2023-11-01 0.070 0.645756
2023-10-02 0.068 0.616500
2023-09-01 0.063 0.555066
2023-08-01 0.055 0.482033
2023-07-03 0.055 0.493274
2023-06-01 0.055 0.492390
2023-05-01 0.055 0.482880
2023-04-03 0.055 0.492390
2023-03-02 0.055 0.480349
2023-02-01 0.055 0.481190
2023-01-03 0.055 0.486726
2022-12-01 0.055 0.472509
2022-11-01 0.055 0.500000
2022-10-03 0.055 0.472509
2022-09-01 0.055 0.465313
2022-08-01 0.055 0.470085
2022-07-01 0.055 0.474547
2022-06-01 0.055 0.473322
2022-05-02 0.055 0.472509
2022-04-01 0.055 0.444984
2022-03-01 0.055 0.423403
2022-02-01 0.055 0.418888
2022-01-03 0.055 0.404412
2021-12-01 0.055 0.411677
2021-11-01 0.055 0.400875
2021-10-01 0.060 0.434468
2021-09-01 0.060 0.437637
2021-08-02 0.060 0.430725
2021-07-01 0.060 0.433213
2021-06-01 0.060 0.436681
2021-05-03 0.060 0.442804
2021-04-01 0.060 0.446097
2021-03-01 0.060 0.437956
2021-02-01 0.060 0.434783
2021-01-04 0.060 0.438276
2020-12-01 0.060 0.441501
2020-11-02 0.060 0.444115
2020-10-01 0.060 0.439883
2020-09-01 0.060 0.446097
2020-08-03 0.060 0.441176
2020-07-01 0.060 0.436364
2020-06-01 0.060 0.435414
2020-05-01 0.060 0.455581
2020-04-01 0.060 0.465839
2020-03-02 0.060 0.427046
2020-02-03 0.060 0.426439
2020-01-02 0.060 0.431655
2019-12-02 0.060 0.431655
2019-11-01 0.060 0.428571
2019-10-01 0.060 0.430108
2019-09-03 0.060 0.443131
2019-08-01 0.060 0.433839
2019-07-01 0.060 0.430416
2019-06-03 0.060 0.439883
2019-05-01 0.060 0.445104
2019-04-01 0.060 0.445434
2019-03-01 0.060 0.446761
2019-02-01 0.060 0.446761
2019-01-02 0.060 0.457666
2018-12-03 0.060 0.458365
2018-11-01 0.060 0.459770
2018-10-01 0.060 0.448096
2018-09-04 0.060 0.450450
2018-08-01 0.060 0.454545
2018-07-02 0.060 0.450450
2018-06-01 0.060 0.447427
2018-05-01 0.060 0.448766
2018-04-02 0.065 0.467626
2018-03-01 0.065 0.458716
2018-02-01 0.065 0.463293
2018-01-02 0.065 0.453911
2017-12-01 0.065 0.460993
2017-11-01 0.065 0.454228
2017-10-02 0.065 0.457103
2017-09-01 0.065 0.455501
2017-08-01 0.065 0.457424
2017-07-03 0.065 0.459364
2017-06-01 0.065 0.460666
2017-05-01 0.065 0.461976
2017-04-03 0.065 0.462963
2017-03-01 0.065 0.462633
2017-02-01 0.065 0.461320
2017-01-03 0.065 0.460014
2016-12-01 0.065 0.460993
2016-11-01 0.065 0.465283
2016-10-03 0.065 0.448585
2016-09-01 0.065 0.448276
2016-08-01 0.065 0.446122
2016-07-01 0.075 0.520833
2016-06-01 0.075 0.522284
2016-05-02 0.075 0.519391
2016-04-01 0.075 0.517956
2016-03-01 0.075 0.528914
2016-02-01 0.085 0.591510
2016-01-04 0.085 0.589868
2015-12-01 0.085 0.586207
2015-11-02 0.085 0.582591
2015-10-01 0.085 0.598592
2015-09-01 0.085 0.592748
2015-08-03 0.085 0.578625
2015-07-01 0.085 0.603693
2015-06-01 0.085 0.577446
2015-05-01 0.085 0.571621
2015-04-01 0.085 0.571237
2015-03-02 0.085 0.577446
2015-02-02 0.085 0.578625
2014-12-29 0.085 0.568942
2014-12-01 0.085 0.565160
2014-11-03 0.085 0.564035
2014-10-01 0.085 0.560316
2014-09-02 0.085 0.550162
2014-08-01 0.085 0.550875
2014-07-01 0.085 0.535602
2014-06-02 0.085 0.536278
2014-05-01 0.085 0.534255
2014-04-01 0.085 0.541746
2014-03-03 0.085 0.535264
2014-02-03 0.085 0.541057
2013-12-27 0.085 0.547328
2013-12-02 0.085 0.542784
2013-11-01 0.085 0.534591
2013-10-01 0.085 0.542092
2013-09-03 0.085 0.553385
2013-08-01 0.085 0.549806
2013-07-01 0.085 0.538315
2013-06-03 0.085 0.531582
2013-05-01 0.100 0.595238
2013-04-01 0.100 0.609756
2013-03-01 0.100 0.581395
2013-02-01 0.100 0.579710
2012-12-27 0.140 0.792752
2012-12-03 0.140 0.762943
2012-11-01 0.140 0.750268
2012-10-01 0.160 0.779727
2012-09-04 0.160 0.801603
2012-08-01 0.160 0.809717
2012-07-02 0.160 0.808081
2012-06-01 0.160 0.813835
2012-05-01 0.160 0.810537
2012-04-02 0.160 0.815079
2012-03-01 0.160 0.809717
2012-02-01 0.160 0.796416
2011-12-28 0.270 1.412873
2011-12-01 0.160 0.871460
2011-11-01 0.160 0.852424
2011-10-03 0.160 0.880088
2011-09-01 0.160 0.834637
2011-08-01 0.160 0.788177
2011-07-01 0.160 0.771456
2011-06-01 0.160 0.768123
2011-05-02 0.160 0.781250
2011-04-01 0.160 0.790123
2011-03-01 0.160 0.803616
2011-02-01 0.160 0.819252
2010-12-29 0.270 1.398239
2010-12-01 0.160 0.813421
2010-11-01 0.160 0.775570
2010-10-01 0.160 0.740398
2010-09-01 0.160 0.796416
2010-08-02 0.160 0.814249
2010-07-01 0.120 0.658617
2010-06-01 0.120 0.658256
2010-05-03 0.120 0.645856
2010-04-01 0.120 0.657895
2010-03-01 0.120 0.650759
2010-02-01 0.120 0.644122
2009-12-29 0.230 1.257518
2009-12-01 0.110 0.625000
2009-11-02 0.110 0.626781
2009-10-01 0.110 0.619021
2009-09-01 0.110 0.634006
2009-08-03 0.110 0.639535
2009-07-01 0.110 0.657502
2009-06-01 0.110 0.677757
2009-05-01 0.110 0.694006
2009-04-01 0.110 0.695322
2009-03-02 0.110 0.727032
2009-02-02 0.110 0.674847
2008-12-29 0.160 0.987654
2008-12-01 0.110 0.677757
2008-11-03 0.110 0.694444
2008-10-01 0.110 0.696203
2008-09-02 0.110 0.654372
2008-08-01 0.110 0.650118
2008-07-01 0.100 0.585480
2008-06-02 0.090 0.514286
2008-05-01 0.085 0.489914
2008-04-01 0.085 0.502959
2008-03-03 0.085 0.495627
2008-02-01 0.085 0.507766
2008-01-02 0.085 0.507463
2007-12-03 0.085 0.520196
2007-11-01 0.085 0.522755
2007-10-01 0.167 1.012121
2007-09-04 0.085 0.515152
2007-08-01 0.085 0.525340
2007-07-02 0.085 0.512048
2007-06-01 0.085 0.506555
2007-05-01 0.085 0.510204
2007-04-02 0.085 0.516090
2007-03-01 0.085 0.512048
2007-02-01 0.085 0.508069
2007-01-03 0.085 0.512666
2006-12-01 0.085 0.519242
2006-11-01 0.085 0.516090
2006-10-02 0.085 0.518609
2006-09-01 0.085 0.521153
2006-08-01 0.085 0.537975
2006-07-03 0.085 0.529595
2006-06-01 0.085 0.531250
2006-05-01 0.085 0.530587
2006-04-03 0.085 0.531250
2006-03-01 0.085 0.525665
2006-02-01 0.085 0.521792
2006-01-03 0.085 0.534591
2005-12-01 0.104 0.640000
2005-11-04 0.104 0.630685
2005-10-03 0.104 0.629921
2005-09-01 0.104 0.579387
2005-08-01 0.104 0.536082
Additional Data
dividendRate 0.78
dividendYield 6.66
exDividendDate 2026-09-01
trailingAnnualDividendRate 0.81
trailingAnnualDividendYield 0.06920888
lastDividendValue 0.065
lastDividendDate 2026-08-03
dividendDate 2019-02-15

Info Dump

Attribute Value
52 Week Change -0.045677006
Address1 120 East Liberty Drive
Address2 Suite 400
All Time High 22.0
All Time Low 10.52
Ask 11.66
Ask Size 100
Average Daily Volume10 Day 3,000
Average Daily Volume3 Month 3,141
Average Volume 3,141
Average Volume10Days 3,000
Beta 0.262
Bid 11.57
Bid Size 100
Book Value 12.646
City Wheaton
Country United States
Crypto Tradeable 0
Currency USD
Current Price 11.635
Current Ratio 0.68
Custom Price Alert Confidence HIGH
Date Short Interest 1,786,665,600
Day High 11.66
Day Low 11.42
Debt To Equity 0.048
Dividend Date 1,550,188,800
Dividend Rate 0.78
Dividend Yield 6.66
Earnings Growth -0.704
Earnings Quarterly Growth -0.704
Ebitda Margins 0.0
Eps Trailing Twelve Months 0.71
Esg Populated 0
Ex Dividend Date 1,788,220,800
Exchange NYQ
Exchange Data Delayed By 0
Exchange Timezone Name America/New_York
Exchange Timezone Short Name EDT
Fifty Day Average 11.661
Fifty Day Average Change -0.026000023
Fifty Day Average Change Percent -0.0022296563
Fifty Two Week Change Percent -4.5677004
Fifty Two Week High 12.38
Fifty Two Week High Change -0.7449999
Fifty Two Week High Change Percent -0.060177695
Fifty Two Week Low 11.4
Fifty Two Week Low Change 0.23500061
Fifty Two Week Low Change Percent 0.02061409
Fifty Two Week Range 11.4 - 12.38
Financial Currency USD
First Trade Date Milliseconds 1,117,114,200,000
Five Year Avg Dividend Yield 6.45
Full Exchange Name NYSE
Fullday Change -0.0686998
Fullday Change Percent -0.586992
Fullday Price 11.635
Gmt Off Set Milliseconds -14,400,000
Gross Margins 1.0
Gross Profits 3,101,494
Has Pre Post Market Data 1
Held Percent Insiders 0.00037
Held Percent Institutions 0.60505
Implied Shares Outstanding 4,213,115
Industry Asset Management
Industry Disp Asset Management
Industry Key asset-management
Language en-US
Last Dividend Date 1,785,715,200
Last Dividend Value 0.065
Last Fiscal Year End 1,761,868,800
Long Business Summary First Trust Mortgage Income Fund is a closed-ended fixed income mutual fund launched and managed by First Trust Advisors L.P. It is co-managed by Brookfield Investment Management Inc. The fund invests in fixed income markets. It seeks to invest in fixed income securities including mortgage-backed securities, consisting of pass-through certificates, collateralized mortgage obligations, residential mortgage-backed securities, and commercial mortgage-backed securities. The fund was formerly known as the First Trust/FIDAC Mortgage Income Fund. First Trust Mortgage Income Fund was formed on May 25, 2005 and is domiciled in United States.
Long Name First Trust Mortgage Income Fund
Market us_market
Market Cap 49,019,592
Market State CLOSED
Max Age 86,400
Message Board Id finmb_20932843
Most Recent Quarter 1,777,507,200
Net Income To Common 2,965,691
Next Fiscal Year End 1,793,404,800
Non Diluted Market Cap 49,309,034
Open 11.67
Operating Margins 0.64102995
Payout Ratio 1.1268001
Phone 630-765-8000
Post Market Change 0.0
Post Market Change Percent 0.0
Post Market Price 11.635
Post Market Time 1,787,951,100
Previous Close 11.7037
Price Hint 2
Price To Book 0.9200538
Price To Sales Trailing12 Months 15.805155
Profit Margins 0.95621
Quick Ratio 0.615
Quote Source Name Delayed Quote
Quote Type EQUITY
Recommendation Key none
Region US
Regular Market Change -0.0686998
Regular Market Change Percent -0.586992
Regular Market Day High 11.66
Regular Market Day Low 11.42
Regular Market Day Range 11.42 - 11.66
Regular Market Open 11.67
Regular Market Previous Close 11.7037
Regular Market Price 11.635
Regular Market Time 1,787,947,011
Regular Market Volume 13,160
Return On Assets 0.024330001
Return On Equity 0.055430003
Revenue Growth -0.27
Revenue Per Share 0.736
Sand P52 Week Change 0.20504117
Sector Financial Services
Sector Disp Financial Services
Sector Key financial-services
Shares Outstanding 4,213,115
Shares Percent Shares Out 0.001
Shares Short 4,565
Shares Short Previous Month Date 1,784,073,600
Shares Short Prior Month 5,025
Short Name First Trust Motgage Income Fund
Short Ratio 1.34
Source Interval 15
State IL
Symbol FMY
Total Debt 25,797
Total Revenue 3,101,494
Tradeable 0
Trailing Annual Dividend Rate 0.81
Trailing Annual Dividend Yield 0.06920888
Trailing Eps 0.71
Trailing P E 16.387325
Trailing Peg Ratio None
Triggerable 1
Two Hundred Day Average 11.8609
Two Hundred Day Average Change -0.2258997
Two Hundred Day Average Change Percent -0.019045746
Type Disp Equity
Volume 13,160
Website https://www.ftportfolios.com/retail/CEF/CEFsummary.aspx?Ticker=FMY
Zip 60,187