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

First Trust Energy Income and Growth Fund (NYSEAMERICAN:FENGet Free Report) declared a quarterly dividend on Wednesday, April 10th, NASDAQ reports. Shareholders 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 9.80%. 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 payment by an average of 12.0% per year over the last three years.

First Trust Energy Income and Growth Fund Trading Down 1.0 %

FEN traded down $0.16 during mid-day trading on Friday, reaching $16.33. The stock had a trading volume of 33,150 shares, compared to its average volume of 59,361. First Trust Energy Income and Growth Fund has a 52 week low of $12.22 and a 52 week high of $16.69.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FEN. Morgan Stanley raised its stake in First Trust Energy Income and Growth Fund by 18.4% during the 4th quarter. Morgan Stanley now owns 497,098 shares of the company’s stock worth $7,054,000 after buying an additional 77,270 shares during the period. Advisors Asset Management Inc. raised its stake in First Trust Energy Income and Growth Fund by 2.2% during the 1st quarter. Advisors Asset Management Inc. now owns 371,757 shares of the company’s stock worth $6,030,000 after buying an additional 8,112 shares during the period. Royal Bank of Canada raised its stake in First Trust Energy Income and Growth Fund by 2.8% during the 3rd 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 during the period. Cetera Advisors LLC raised its stake in First Trust Energy Income and Growth Fund by 1.7% during the 4th 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 period. Finally, Baird Financial Group Inc. raised its stake in First Trust Energy Income and Growth Fund by 1.1% during the 1st quarter. Baird Financial Group Inc. now owns 213,632 shares of the company’s stock worth $3,465,000 after buying an additional 2,299 shares during the period.

First Trust Energy Income and Growth Fund Company Profile

(Get Free Report)

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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Dividend History for First Trust Energy Income and Growth Fund (NYSEAMERICAN:FEN)

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