First Trust North American Energy Infrastructure Fund (NYSEARCA:EMLP) Sees Unusually-High Trading Volume – Time to Buy?

Shares of First Trust North American Energy Infrastructure Fund (NYSEARCA:EMLP) saw unusually-strong trading volume on Monday . Approximately 713,516 shares traded hands during mid-day trading, an increase of 230% from the previous session’s volume of 216,055 shares.The stock last traded at $32.84 and had previously closed at $34.55.

First Trust North American Energy Infrastructure Fund Stock Down 1.7 %

The company has a market cap of $2.98 billion, a price-to-earnings ratio of 17.19 and a beta of 0.70. The company has a 50 day moving average price of $37.07 and a 200-day moving average price of $36.09.

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

Several institutional investors have recently added to or reduced their stakes in EMLP. Arvest Bank Trust Division purchased a new stake in shares of First Trust North American Energy Infrastructure Fund in the third quarter valued at about $24,152,000. Raymond James Financial Inc. bought a new stake in shares of First Trust North American Energy Infrastructure Fund during the 4th quarter valued at about $20,886,000. Modern Wealth Management LLC purchased a new position in First Trust North American Energy Infrastructure Fund in the fourth quarter worth $19,845,000. Ocean Park Asset Management LLC bought a new stake in First Trust North American Energy Infrastructure Fund in the 4th quarter worth approximately $17,611,000. Finally, Hobart Private Capital LLC raised its stake in shares of First Trust North American Energy Infrastructure Fund by 411.2% during the first quarter. Hobart Private Capital LLC now owns 237,683 shares of the exchange traded fund’s stock worth $8,911,000 after acquiring an additional 191,191 shares in the last quarter.

First Trust North American Energy Infrastructure Fund Company Profile

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.