First Trust New Opportunities MLP & Energy Fund (NYSE:FPL) Shares Cross Above 50-Day Moving Average of $7.51

First Trust New Opportunities MLP & Energy Fund (NYSE:FPL)’s stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $7.51 and traded as high as $7.76. First Trust New Opportunities MLP & Energy Fund shares last traded at $7.76, with a volume of 62,700 shares traded.

First Trust New Opportunities MLP & Energy Fund Trading Up 0.1 %

The company has a fifty day simple moving average of $7.51 and a 200 day simple moving average of $7.09.

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

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. acquired a new stake in First Trust New Opportunities MLP & Energy Fund during the 3rd quarter valued at approximately $39,000. Blue Bell Private Wealth Management LLC bought a new stake in shares of First Trust New Opportunities MLP & Energy Fund in the 4th quarter valued at $44,000. Quarry LP bought a new stake in shares of First Trust New Opportunities MLP & Energy Fund in the 4th quarter valued at $147,000. Raymond James Financial Services Advisors Inc. increased its position in shares of First Trust New Opportunities MLP & Energy Fund by 166.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 27,517 shares of the investment management company’s stock worth $172,000 after buying an additional 17,209 shares during the period. Finally, Kayne Anderson Capital Advisors LP bought a new position in First Trust New Opportunities MLP & Energy Fund during the third quarter worth $286,000.

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.