First Trust New Opportunities MLP & Energy Fund (NYSE:FPL) Sees Significant Growth in Short Interest

First Trust New Opportunities MLP & Energy Fund (NYSE:FPL) was the target of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 21,700 shares, an increase of 442.5% from the February 29th total of 4,000 shares. Based on an average trading volume of 71,900 shares, the days-to-cover ratio is currently 0.3 days.

First Trust New Opportunities MLP & Energy Fund Price Performance

Shares of NYSE FPL opened at $7.55 on Thursday. The stock’s 50-day moving average is $7.05 and its 200 day moving average is $6.80. First Trust New Opportunities MLP & Energy Fund has a 1-year low of $5.65 and a 1-year high of $7.55.

First Trust New Opportunities MLP & Energy Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd will be paid a $0.038 dividend. This is a boost from First Trust New Opportunities MLP & Energy Fund’s previous monthly dividend of $0.04. The ex-dividend date is Monday, April 1st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 6.04%. First Trust New Opportunities MLP & Energy Fund’s dividend payout ratio is 10.84%.

Hedge Funds Weigh In On First Trust New Opportunities MLP & Energy Fund

Large investors have recently added to or reduced their stakes in the business. NBC Securities Inc. bought a new stake in First Trust New Opportunities MLP & Energy Fund in the third quarter valued at approximately $39,000. Blue Bell Private Wealth Management LLC bought a new stake in First Trust New Opportunities MLP & Energy Fund during the 4th quarter valued at $44,000. Virtu Financial LLC bought a new stake in First Trust New Opportunities MLP & Energy Fund in the 1st quarter worth $64,000. Stifel Financial Corp purchased a new position in shares of First Trust New Opportunities MLP & Energy Fund in the fourth quarter valued at about $69,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of First Trust New Opportunities MLP & Energy Fund during the first quarter valued at about $77,000.

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.