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

First Trust New Opportunities MLP & Energy Fund (NYSE:FPL) was the recipient of a significant increase in short interest in 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 daily volume of 71,900 shares, the days-to-cover ratio is currently 0.3 days.

First Trust New Opportunities MLP & Energy Fund Stock Performance

Shares of FPL stock opened at $7.55 on Thursday. The business has a 50 day moving average of $7.05 and a two-hundred day moving average of $6.80. First Trust New Opportunities MLP & Energy Fund has a 52 week low of $5.65 and a 52 week high of $7.55.

First Trust New Opportunities MLP & Energy Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd will be given a dividend of $0.038 per share. The ex-dividend date is Monday, April 1st. This represents a $0.46 annualized dividend and a dividend yield of 6.04%. This is a positive change 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 is currently 10.84%.

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

Large investors have recently made changes to their positions in the company. Saba Capital Management L.P. raised its holdings in First Trust New Opportunities MLP & Energy Fund by 119.4% during the 3rd quarter. Saba Capital Management L.P. now owns 1,965,760 shares of the investment management company’s stock worth $12,306,000 after buying an additional 1,069,735 shares during the period. Goldman Sachs Group Inc. bought a new position in First Trust New Opportunities MLP & Energy Fund during the fourth quarter valued at about $2,246,000. LPL Financial LLC raised its stake in shares of First Trust New Opportunities MLP & Energy Fund by 242.3% in the first 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 in the last quarter. Cohen & Steers Inc. lifted its holdings in shares of First Trust New Opportunities MLP & Energy Fund by 33.8% during the 4th quarter. Cohen & Steers Inc. now owns 328,800 shares of the investment management company’s stock worth $2,262,000 after acquiring an additional 83,000 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in First Trust New Opportunities MLP & Energy Fund by 12.7% during the third quarter. Advisors Asset Management Inc. now owns 694,812 shares of the investment management company’s stock worth $4,350,000 after purchasing an additional 78,521 shares during the period.

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.