First Trust North American Energy Infrastructure Fund (NYSEARCA:EMLP) Hits New 52-Week High – Time to Buy?

Shares of First Trust North American Energy Infrastructure Fund (NYSEARCA:EMLP) hit a new 52-week high during trading on Monday . The stock traded as high as $43.08 and last traded at $43.4550, with a volume of 247316 shares. The stock had previously closed at $42.82.

First Trust North American Energy Infrastructure Fund Trading Up 0.2%

The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 17.59 and a beta of 0.65. The stock’s 50-day simple moving average is $39.44 and its 200-day simple moving average is $38.56.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. CWM LLC lifted its stake in First Trust North American Energy Infrastructure Fund by 23.3% during the second quarter. CWM LLC now owns 3,190 shares of the exchange traded fund’s stock worth $120,000 after purchasing an additional 602 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of First Trust North American Energy Infrastructure Fund by 11.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 383,625 shares of the exchange traded fund’s stock worth $14,390,000 after buying an additional 39,216 shares during the last quarter. Winebrenner Capital Management LLC boosted its stake in First Trust North American Energy Infrastructure Fund by 2.4% in the second quarter. Winebrenner Capital Management LLC now owns 17,223 shares of the exchange traded fund’s stock valued at $646,000 after buying an additional 401 shares in the last quarter. Arkadios Wealth Advisors boosted its stake in First Trust North American Energy Infrastructure Fund by 52.1% in the second quarter. Arkadios Wealth Advisors now owns 43,685 shares of the exchange traded fund’s stock valued at $1,639,000 after buying an additional 14,964 shares in the last quarter. Finally, Integrity Alliance LLC. bought a new position in First Trust North American Energy Infrastructure Fund in the second quarter valued at about $497,000.

First Trust North American Energy Infrastructure Fund Company Profile

The First Trust North American Energy Infrastructure Fund (EMLP) is an exchange-traded fund that is based on the Alerian MLP index. The fund is an actively managed fund that invests in North American energy infrastructure MLPs and LLCs. EMLP was launched on Jun 21, 2012 and is managed by First Trust.