First Trust North American Energy Infrastructure Fund (NYSEARCA:EMLP) Hits New 1-Year High – Should You Buy?

First Trust North American Energy Infrastructure Fund (NYSEARCA:EMLP)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $35.97 and last traded at $35.86, with a volume of 14204 shares trading hands. The stock had previously closed at $35.89.

First Trust North American Energy Infrastructure Fund Stock Down 0.7 %

The company’s 50-day moving average is $33.89 and its 200-day moving average is $32.03. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 17.22 and a beta of 0.52.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Prospera Private Wealth LLC purchased a new stake in shares of First Trust North American Energy Infrastructure Fund during the 3rd quarter worth $27,000. Darwin Wealth Management LLC purchased a new position in First Trust North American Energy Infrastructure Fund in the third quarter valued at approximately $30,000. Triad Wealth Partners LLC purchased a new stake in shares of First Trust North American Energy Infrastructure Fund during the 2nd quarter worth approximately $60,000. Eastern Bank acquired a new position in shares of First Trust North American Energy Infrastructure Fund in the 3rd quarter valued at $70,000. Finally, ORG Wealth Partners LLC purchased a new position 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.