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

First Trust North American Energy Infrastructure Fund (NYSEARCA:EMLP) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $44.45 and last traded at $44.6350, with a volume of 16516 shares trading hands. The stock had previously closed at $44.06.

First Trust North American Energy Infrastructure Fund Stock Performance

The firm’s 50 day moving average is $42.95 and its 200-day moving average is $39.91. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 17.59 and a beta of 0.64.

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

Large investors have recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of First Trust North American Energy Infrastructure Fund in the 4th quarter valued at $31,000. Darwin Wealth Management LLC acquired a new position in First Trust North American Energy Infrastructure Fund during the second quarter worth $33,000. Root Financial Partners LLC acquired a new position in First Trust North American Energy Infrastructure Fund during the third quarter worth $35,000. Sound Income Strategies LLC raised its position in First Trust North American Energy Infrastructure Fund by 47,500.0% during the fourth quarter. Sound Income Strategies LLC now owns 952 shares of the exchange traded fund’s stock worth $37,000 after acquiring an additional 950 shares during the period. Finally, Assetmark Inc. raised its position in First Trust North American Energy Infrastructure Fund by 71.7% during the fourth quarter. Assetmark Inc. now owns 972 shares of the exchange traded fund’s stock worth $37,000 after acquiring an additional 406 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.