First Trust Energy Income & Growth Fund (NYSEAMERICAN:FEN) saw a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 82,375 shares, a drop of 38.6% from the January 15th total of 134,246 shares. Based on an average daily trading volume, of 109,549 shares, the short-interest ratio is currently 0.8 days.
FEN opened at $20.10 on Tuesday. First Trust Energy Income & Growth Fund has a 12 month low of $17.81 and a 12 month high of $24.97.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 31st. Investors of record on Wednesday, January 23rd were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 11.54%. The ex-dividend date was Tuesday, January 22nd.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. boosted its holdings in First Trust Energy Income & Growth Fund by 76.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 77,221 shares of the company’s stock worth $1,446,000 after buying an additional 33,360 shares during the period. NEXT Financial Group Inc boosted its holdings in First Trust Energy Income & Growth Fund by 56.6% in the 4th quarter. NEXT Financial Group Inc now owns 11,868 shares of the company’s stock worth $222,000 after buying an additional 4,291 shares during the period. Relative Value Partners Group LLC bought a new position in First Trust Energy Income & Growth Fund in the 4th quarter worth approximately $1,532,000. Stephens Inc. AR bought a new position in First Trust Energy Income & Growth Fund in the 4th quarter worth approximately $1,542,000. Finally, LLBH Private Wealth Management LLC boosted its holdings in First Trust Energy Income & Growth Fund by 16.4% in the 4th quarter. LLBH Private Wealth Management LLC now owns 543,982 shares of the company’s stock worth $10,183,000 after buying an additional 76,644 shares during the period.
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About First Trust Energy Income & 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.
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