First Trust Energy Income and Growth Fund (NYSEAMERICAN:FEN) Raises Dividend to $0.40 Per Share

First Trust Energy Income and Growth Fund (NYSEAMERICAN:FEN) declared a quarterly dividend on Wednesday, April 10th, NASDAQ reports. Investors of record on Tuesday, April 23rd will be paid a dividend of 0.40 per share on Tuesday, April 30th. This represents a $1.60 dividend on an annualized basis and a yield of 9.70%. The ex-dividend date is Monday, April 22nd. This is a boost from First Trust Energy Income and Growth Fund’s previous quarterly dividend of $0.30.

First Trust Energy Income and Growth Fund has decreased its dividend by an average of 12.0% annually over the last three years.

First Trust Energy Income and Growth Fund Stock Performance

First Trust Energy Income and Growth Fund stock opened at $16.50 on Friday. First Trust Energy Income and Growth Fund has a 12-month low of $12.22 and a 12-month high of $16.69.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Morgan Stanley raised its position in First Trust Energy Income and Growth Fund by 18.4% in the fourth quarter. Morgan Stanley now owns 497,098 shares of the company’s stock worth $7,054,000 after acquiring an additional 77,270 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of First Trust Energy Income and Growth Fund by 2.2% in the 1st quarter. Advisors Asset Management Inc. now owns 371,757 shares of the company’s stock worth $6,030,000 after purchasing an additional 8,112 shares in the last quarter. Royal Bank of Canada boosted its holdings in First Trust Energy Income and Growth Fund by 2.8% during the third quarter. Royal Bank of Canada now owns 232,625 shares of the company’s stock worth $3,454,000 after buying an additional 6,427 shares in the last quarter. Cetera Advisors LLC grew its position in First Trust Energy Income and Growth Fund by 1.7% in the fourth quarter. Cetera Advisors LLC now owns 232,604 shares of the company’s stock worth $3,301,000 after buying an additional 3,881 shares during the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of First Trust Energy Income and Growth Fund by 1.1% in the first quarter. Baird Financial Group Inc. now owns 213,632 shares of the company’s stock valued at $3,465,000 after buying an additional 2,299 shares in the last quarter.

First Trust Energy Income and Growth Fund Company Profile

First Trust Energy Income and Growth Fund is a closed-ended equity 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 markets of the United States. It seeks to invest in stocks of companies operating in the energy sector, including companies in the business of transporting, processing, storing, distributing, or marketing natural gas, natural gas liquids (including propane), crude oil, refined petroleum products, coal or electricity, or exploring, developing, managing or producing such commodities or products, or in supplying energy-related products and services.