First Trust New Opportunities MLP & Energy Fund (NYSE:FPL) Share Price Passes Above 50 Day Moving Average of $7.23

First Trust New Opportunities MLP & Energy Fund (NYSE:FPL) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $7.23 and traded as high as $7.68. First Trust New Opportunities MLP & Energy Fund shares last traded at $7.59, with a volume of 72,772 shares.

First Trust New Opportunities MLP & Energy Fund Stock Performance

The business’s 50 day moving average price is $7.23 and its 200-day moving average price is $6.90.

First Trust New Opportunities MLP & Energy Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd will be paid a dividend of $0.038 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 6.01%. The ex-dividend date is Monday, April 1st. This is a boost from First Trust New Opportunities MLP & Energy Fund’s previous monthly dividend of $0.04. First Trust New Opportunities MLP & Energy Fund’s dividend payout ratio (DPR) is currently 10.16%.

Institutional Trading of First Trust New Opportunities MLP & Energy Fund

Hedge funds have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. raised its stake in First Trust New Opportunities MLP & Energy Fund by 13.4% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 80,501 shares of the investment management company’s stock worth $554,000 after purchasing an additional 9,500 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in First Trust New Opportunities MLP & Energy Fund in the 4th quarter worth about $2,246,000. Quarry LP acquired a new stake in First Trust New Opportunities MLP & Energy Fund in the 4th quarter worth about $147,000. Cohen & Steers Inc. raised its stake in First Trust New Opportunities MLP & Energy Fund by 33.8% in the 4th quarter. Cohen & Steers Inc. now owns 328,800 shares of the investment management company’s stock worth $2,262,000 after purchasing an additional 83,000 shares in the last quarter. Finally, Stifel Financial Corp acquired a new stake in First Trust New Opportunities MLP & Energy Fund in the 4th quarter worth about $69,000.

First Trust New Opportunities MLP & Energy Fund Company Profile

First Trust New Opportunities MLP & Energy Fund is a closed-ended balanced 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 and fixed income markets of the United States. It seeks to invest in securities of companies operating in the energy and utilities sectors.