First Trust Energy Income and Growth Fund (NYSEAMERICAN:FEN) Sees Significant Drop in Short Interest

First Trust Energy Income and Growth Fund (NYSEAMERICAN:FENGet Rating) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 41,200 shares, a drop of 9.3% from the August 15th total of 45,400 shares. Based on an average daily volume of 62,600 shares, the short-interest ratio is presently 0.7 days.

Institutional Trading of First Trust Energy Income and Growth Fund

A number of hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in First Trust Energy Income and Growth Fund by 2.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 557,597 shares of the company’s stock valued at $8,877,000 after buying an additional 15,067 shares during the period. Coastal Bridge Advisors LLC increased its holdings in First Trust Energy Income and Growth Fund by 10.4% in the 2nd quarter. Coastal Bridge Advisors LLC now owns 391,829 shares of the company’s stock valued at $6,238,000 after buying an additional 36,821 shares during the period. Advisors Asset Management Inc. increased its holdings in First Trust Energy Income and Growth Fund by 2.2% in the 1st quarter. Advisors Asset Management Inc. now owns 371,757 shares of the company’s stock valued at $6,030,000 after buying an additional 8,112 shares during the period. Guggenheim Capital LLC increased its holdings in First Trust Energy Income and Growth Fund by 1.1% in the 4th quarter. Guggenheim Capital LLC now owns 319,293 shares of the company’s stock valued at $4,413,000 after buying an additional 3,555 shares during the period. Finally, Baird Financial Group Inc. grew its holdings in shares of First Trust Energy Income and Growth Fund by 43.5% during the 2nd quarter. Baird Financial Group Inc. now owns 306,608 shares of the company’s stock valued at $4,881,000 after purchasing an additional 92,976 shares during the last quarter.

First Trust Energy Income and Growth Fund Price Performance

Shares of FEN stock opened at $14.84 on Monday. First Trust Energy Income and Growth Fund has a one year low of $12.70 and a one year high of $17.00.

First Trust Energy Income and Growth Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Monday, July 25th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.09%. The ex-dividend date was Friday, July 22nd.

First Trust Energy Income and Growth Fund Company Profile

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First Trust Energy Income and Growth Fund is a closed-ended equity mutual fund launched and managed by First Trust Advisors L.P. It is co-managed by Energy Income Partners, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating in the energy sector, including companies in the business of transporting, processing, storing, distributing, or marketing natural gas, natural gas liquids (including propane), crude oil, refined petroleum products, coal or electricity, or exploring, developing, managing or producing such commodities or products, or in supplying energy-related products and services.

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