First Trust Energy Income and Growth Fund (NYSEAMERICAN:FEN) Shares Cross Above 50 Day Moving Average of $0.00

First Trust Energy Income and Growth Fund (NYSEAMERICAN:FEN)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $0.00 and traded as high as $16.64. First Trust Energy Income and Growth Fund shares last traded at $16.50, with a volume of 96,303 shares changing hands.

First Trust Energy Income and Growth Fund Trading Up 1.2 %

First Trust Energy Income and Growth Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 23rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 9.70%. This is an increase from First Trust Energy Income and Growth Fund’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, April 22nd.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FEN. PNC Financial Services Group Inc. grew its position in First Trust Energy Income and Growth Fund by 153.8% in the first quarter. PNC Financial Services Group Inc. now owns 1,650 shares of the company’s stock worth $27,000 after acquiring an additional 1,000 shares in the last quarter. D.A. Davidson & CO. purchased a new position in First Trust Energy Income and Growth Fund in the first quarter worth $181,000. LongView Wealth Management purchased a new position in First Trust Energy Income and Growth Fund in the first quarter worth $188,000. Private Advisor Group LLC purchased a new position in First Trust Energy Income and Growth Fund in the first quarter worth $193,000. Finally, Cetera Advisor Networks LLC purchased a new position in First Trust Energy Income and Growth Fund in the first quarter worth $194,000.

About First Trust Energy Income and Growth Fund

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.