First Trust High Income Long/short Fund (NYSE:FSD) Shares Up 7.6%

First Trust High Income Long/short Fund (NYSE:FSD)’s share price shot up 7.6% on Tuesday . The stock traded as high as $10.49 and last traded at $10.42, 270,400 shares changed hands during mid-day trading. An increase of 44% from the average session volume of 188,046 shares. The stock had previously closed at $9.68.

The stock has a 50-day moving average of $14.25 and a two-hundred day moving average of $15.12.

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Thursday, April 2nd will be paid a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a yield of 11.68%. The ex-dividend date of this dividend is Wednesday, April 1st.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Level Four Advisory Services LLC bought a new position in shares of First Trust High Income Long/short Fund during the fourth quarter valued at $19,753,000. Rivernorth Capital Management LLC grew its position in First Trust High Income Long/short Fund by 34.5% during the 3rd quarter. Rivernorth Capital Management LLC now owns 987,763 shares of the company’s stock valued at $14,974,000 after purchasing an additional 253,528 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in First Trust High Income Long/short Fund during the 4th quarter valued at about $2,788,000. Advisors Asset Management Inc. bought a new stake in First Trust High Income Long/short Fund during the 4th quarter valued at about $966,000. Finally, Oppenheimer & Co. Inc. increased its stake in First Trust High Income Long/short Fund by 76.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 42,319 shares of the company’s stock valued at $667,000 after purchasing an additional 18,287 shares in the last quarter.

First Trust High Income Long/short Fund Company Profile (NYSE:FSD)

First Trust High Income Long/Short Fund is a closed-ended fixed-income mutual fund launched and managed by First Trust Advisors, L.P. It is co-managed by MacKay Shields LLC. The fund invests in fixed-income markets across the globe. It primarily invests in high-yield corporate fixed-income securities of varying maturities that are rated below-investment grade, including corporate bonds, debentures, notes, and commercial papers.

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