First Trust/FIDAC Mortgage Income Fund (FMY)

Frequently Asked Questions About First Trust/FIDAC Mortgage Income Fund (FMY)

Can I sell my FMY shares anytime?

Yes, investors can sell their FMY shares at any time during market hours by placing a sell order through their brokerage account, similar to selling shares of any publicly traded stock.

Does FMY have a minimum investment requirement?

FMY may have a minimum investment requirement, typically associated with brokerage firms or account setups. Investors should check with their brokers or the fund's information for specific details regarding minimum investments.

How can I stay updated on FMY's performance?

To stay updated on FMY's performance, investors can subscribe to newsletters, follow financial news websites, or check the official First Trust website, where performance reports and updates are frequently posted.

How can investors purchase shares of FMY?

Investors can purchase shares of FMY through brokerage firms or online trading platforms, similar to how they would buy shares of other publicly traded companies on the stock exchange.

How does FMY generate income for investors?

FMY generates income for its investors primarily through the interest income earned from the mortgage loans and securities in its portfolio. This income is typically distributed to shareholders in the form of monthly dividends.

How often does FMY distribute dividends?

FMY typically distributes dividends on a monthly basis, providing investors with a consistent cash flow from their investment in the fund.

Is FMY suitable for long-term investors?

FMY may be suitable for long-term investors seeking regular income through dividends, but it is essential for potential investors to assess their investment goals and risk tolerance prior to investing.

What are the risks associated with investing in FMY?

As with any investment, risks associated with FMY include interest rate risk, credit risk, and market risk. Changes in interest rates can affect the value of the mortgage-backed securities held by the fund, while credit risk relates to the possibility of loan defaults.

What are the tax implications of investing in FMY?

Investors in FMY may face specific tax implications related to dividends received, particularly if the income qualifies as taxable. It's advisable for investors to consult with a tax professional to understand the impact on their individual tax situation.

What does First Trust/FIDAC Mortgage Income Fund (NYSE:FMY) do?

First Trust/FIDAC Mortgage Income Fund (NYSE:FMY) is a closed-end management investment company that primarily invests in mortgage-backed securities. The fund focuses on generating income through these investments by purchasing and holding a diversified portfolio of mortgage loans and mortgage-related assets.

What is the current NAV of FMY?

The Net Asset Value (NAV) of FMY fluctuates based on the valuation of the fund's underlying assets. Investors can obtain the latest NAV from financial news websites or the official First Trust website.

What is the distribution rate for FMY?

The distribution rate for FMY can vary over time based on the income generated by the underlying assets and the fund's performance. Investors should review the latest reports and announcements for current distribution figures.

What is the fund's investment strategy?

FMY follows a strategy focused on investing in mortgage-backed securities while actively managing its portfolio to respond to changing market conditions and interest rate environments to maximize income.

What is the fund’s expense ratio?

The expense ratio of FMY encompasses the operational costs associated with managing the fund. This figure can fluctuate and should be reviewed regularly to understand how it may impact overall returns.

What is the historical performance of FMY?

The historical performance of FMY can vary based on market conditions and the performance of the mortgage-backed securities sector. Interested investors can find performance data in the fund's annual reports and fact sheets.

What is the primary investment objective of FMY?

The primary investment objective of the First Trust/FIDAC Mortgage Income Fund is to provide a high level of current income. The fund aims to achieve this by investing in mortgage-backed securities and related investments.

What type of securities does FMY invest in?

FMY invests primarily in real estate mortgage investment conduits (REMICs), mortgage-backed securities, and other mortgage-related assets. These investments are aimed at generating income through the interests on the underlying mortgages.

When was First Trust/FIDAC Mortgage Income Fund established?

First Trust/FIDAC Mortgage Income Fund was established in 2003 and has been providing investors with exposure to the mortgage market since its inception.

Who manages FMY?

The fund is managed by First Trust Advisors L.P., which is a leading investment management firm that oversees a variety of investment products and strategies to serve clients' financial goals.

What is the current price of First Trust/FIDAC Mortgage Income Fund?

The current price of First Trust/FIDAC Mortgage Income Fund is 12.05

When was First Trust/FIDAC Mortgage Income Fund last traded?

The last trade of First Trust/FIDAC Mortgage Income Fund was at 2:38 pm EDT on April 4th, 2025