First Trust Energy Income and Growth Fund (NYSEAMERICAN:FEN) Shares Pass Above 50 Day Moving Average – What’s Next?

First Trust Energy Income and Growth Fund (NYSEAMERICAN:FEN)’s share price crossed 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 $16.13. First Trust Energy Income and Growth Fund shares last traded at $16.00, with a volume of 96,400 shares changing hands.

First Trust Energy Income and Growth Fund Trading Down 0.2 %

Hedge Funds Weigh In On First Trust Energy Income and Growth Fund

Several institutional investors and hedge funds have recently made changes to their positions in the business. LongView Wealth Management bought a new position in First Trust Energy Income and Growth Fund during the 1st quarter worth approximately $188,000. Advisors Asset Management Inc. boosted its stake in shares of First Trust Energy Income and Growth Fund by 0.3% during the first quarter. Advisors Asset Management Inc. now owns 515,398 shares of the company’s stock valued at $8,422,000 after purchasing an additional 1,776 shares during the period. Private Advisor Group LLC grew its holdings in shares of First Trust Energy Income and Growth Fund by 2.4% in the first quarter. Private Advisor Group LLC now owns 49,260 shares of the company’s stock worth $805,000 after purchasing an additional 1,142 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in shares of First Trust Energy Income and Growth Fund by 1.6% in the first quarter. Commonwealth Equity Services LLC now owns 54,093 shares of the company’s stock worth $884,000 after buying an additional 864 shares during the period.

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.