First Trust North American Energy Infrastructure Fund (NYSEARCA:EMLP) Hits New 52-Week High – Time to Buy?

First Trust North American Energy Infrastructure Fund (NYSEARCA:EMLP)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $34.83 and last traded at $34.83, with a volume of 2138 shares traded. The stock had previously closed at $34.43.

First Trust North American Energy Infrastructure Fund Stock Performance

The stock has a 50-day simple moving average of $33.78 and a two-hundred day simple moving average of $31.91. The firm has a market cap of $2.92 billion, a PE ratio of 17.22 and a beta of 0.52.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. increased its position in shares of First Trust North American Energy Infrastructure Fund by 9.1% during the 1st quarter. Oppenheimer & Co. Inc. now owns 8,426 shares of the exchange traded fund’s stock valued at $249,000 after purchasing an additional 700 shares during the last quarter. New Republic Capital LLC boosted its stake in shares of First Trust North American Energy Infrastructure Fund by 38.8% during the 1st quarter. New Republic Capital LLC now owns 76,037 shares of the exchange traded fund’s stock worth $2,245,000 after acquiring an additional 21,257 shares during the last quarter. Avantax Advisory Services Inc. grew its position in shares of First Trust North American Energy Infrastructure Fund by 4.9% during the 1st quarter. Avantax Advisory Services Inc. now owns 332,859 shares of the exchange traded fund’s stock valued at $9,829,000 after acquiring an additional 15,623 shares during the period. Kingsview Wealth Management LLC increased its stake in shares of First Trust North American Energy Infrastructure Fund by 3.1% in the 1st quarter. Kingsview Wealth Management LLC now owns 62,592 shares of the exchange traded fund’s stock worth $1,848,000 after purchasing an additional 1,877 shares in the last quarter. Finally, Motco raised its holdings in First Trust North American Energy Infrastructure Fund by 32.9% in the 1st quarter. Motco now owns 43,313 shares of the exchange traded fund’s stock worth $1,279,000 after purchasing an additional 10,731 shares during the period.

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.