First Trust North American Energy Infrastructure Fund (NYSEARCA:EMLP) Sets New 12-Month High – Time to Buy?

First Trust North American Energy Infrastructure Fund (NYSEARCA:EMLP) hit a new 52-week high on Monday . The stock traded as high as $36.13 and last traded at $36.13, with a volume of 2914 shares changing hands. The stock had previously closed at $36.07.

First Trust North American Energy Infrastructure Fund Stock Up 0.6 %

The firm has a market cap of $2.97 billion, a P/E ratio of 17.22 and a beta of 0.52. The firm has a fifty day moving average of $34.13 and a 200-day moving average of $32.21.

Hedge Funds Weigh In On First Trust North American Energy Infrastructure Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EMLP. Prospera Private Wealth LLC bought a new position in First Trust North American Energy Infrastructure Fund in the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC acquired a new position in First Trust North American Energy Infrastructure Fund during the third quarter valued at approximately $30,000. Triad Wealth Partners LLC bought a new stake in First Trust North American Energy Infrastructure Fund during the second quarter worth $60,000. Eastern Bank bought a new stake in First Trust North American Energy Infrastructure Fund during the third quarter worth $70,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of First Trust North American Energy Infrastructure Fund in the 3rd quarter valued at $72,000.

About First Trust North American Energy Infrastructure Fund

The First Trust North American Energy Infrastructure Fund (EMLP) is an exchange-traded fund that is based on the Alerian MLP index. The fund is an actively managed fund that invests in North American energy infrastructure MLPs and LLCs. EMLP was launched on Jun 21, 2012 and is managed by First Trust.