First Trust New Opportunities MLP & Energy Fund (NYSE:FPL) Plans $0.04 Monthly Dividend

First Trust New Opportunities MLP & Energy Fund (NYSE:FPL – Get Rating) declared a monthly dividend on Wednesday, January 25th, Wall Street Journal reports. Stockholders of record on Friday, March 3rd will be given a dividend of 0.0375 per share by the investment management company on Wednesday, March 15th. This represents a $0.45 annualized dividend and a dividend yield of 7.09%. The ex-dividend date of this dividend is Thursday, March 2nd.

First Trust New Opportunities MLP & Energy Fund has decreased its dividend by an average of 20.6% annually over the last three years.

First Trust New Opportunities MLP & Energy Fund Stock Performance

Shares of FPL traded down $0.03 during mid-day trading on Wednesday, hitting $6.35. 56,174 shares of the company traded hands, compared to its average volume of 57,605. First Trust New Opportunities MLP & Energy Fund has a 1-year low of $5.35 and a 1-year high of $6.78. The business has a 50 day moving average of $6.13 and a 200 day moving average of $6.06.

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

Several hedge funds have recently modified their holdings of the stock. Raymond James & Associates increased its holdings in shares of First Trust New Opportunities MLP & Energy Fund by 2.2% during the first quarter. Raymond James & Associates now owns 161,592 shares of the investment management company’s stock valued at $1,020,000 after acquiring an additional 3,548 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of First Trust New Opportunities MLP & Energy Fund during the third quarter valued at about $332,000. Walleye Capital LLC increased its holdings in shares of First Trust New Opportunities MLP & Energy Fund by 337.5% during the first quarter. Walleye Capital LLC now owns 59,714 shares of the investment management company’s stock valued at $377,000 after acquiring an additional 46,064 shares in the last quarter. Royal Bank of Canada boosted its position in First Trust New Opportunities MLP & Energy Fund by 16.8% in the first quarter. Royal Bank of Canada now owns 57,550 shares of the investment management company’s stock valued at $363,000 after buying an additional 8,287 shares during the last quarter. Finally, Lido Advisors LLC acquired a new position in First Trust New Opportunities MLP & Energy Fund in the 1st quarter worth approximately $259,000.

First Trust New Opportunities MLP & Energy Fund Company Profile

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First Trust New Opportunities MLP & Energy Fund is a closed-end investment fund, which engages in seeking a high level of total return with an emphasis on current distributions paid to common shareholders. The company was founded on October 15, 2013 and is headquartered in Wheaton, IL.