Short Interest in First Trust New Opportunities MLP & Energy Fund (NYSE:FPL) Expands By 442.5%

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

First Trust New Opportunities MLP & Energy Fund Stock Up 1.5 %

Shares of NYSE FPL opened at $7.66 on Friday. The firm’s 50-day moving average price is $7.07 and its 200-day moving average price is $6.81. First Trust New Opportunities MLP & Energy Fund has a 52-week low of $5.65 and a 52-week high of $7.67.

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. Investors of record on Tuesday, April 2nd will be issued a $0.038 dividend. The ex-dividend date is Monday, April 1st. This represents a $0.46 annualized dividend and a yield of 5.95%. 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 10.84%.

Institutional Investors Weigh In On First Trust New Opportunities MLP & Energy Fund

A number of hedge funds have recently added to or reduced their stakes in FPL. Saba Capital Management L.P. grew its holdings in shares of First Trust New Opportunities MLP & Energy Fund by 119.4% in the third quarter. Saba Capital Management L.P. now owns 1,965,760 shares of the investment management company’s stock worth $12,306,000 after acquiring an additional 1,069,735 shares during the period. Goldman Sachs Group Inc. bought a new stake in shares of First Trust New Opportunities MLP & Energy Fund during the 4th quarter valued at about $2,246,000. LPL Financial LLC increased its position in shares of First Trust New Opportunities MLP & Energy Fund by 242.3% during the 1st quarter. LPL Financial LLC now owns 154,427 shares of the investment management company’s stock valued at $923,000 after purchasing an additional 109,314 shares during the last quarter. Cohen & Steers Inc. lifted its stake in shares of 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 during the period. Finally, Advisors Asset Management Inc. boosted its holdings in shares of First Trust New Opportunities MLP & Energy Fund by 12.7% in the third quarter. Advisors Asset Management Inc. now owns 694,812 shares of the investment management company’s stock worth $4,350,000 after buying an additional 78,521 shares during the last quarter.

About First Trust New Opportunities MLP & Energy Fund

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.