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FPL

FIRST TRUST NEW OPPORTUNITIES MLP & ENERGY FUND

FPL

Market cap $182M

Delisted

FPL was delisted on the 3rd of May, 2024.

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FPL: Merger Arbitrage Opportunity In The MLP CEF Space

MLP CEFs are taking corporate actions to close discount gaps, with some engaging in share repurchases and others merging into ETFs. FPL, an MLP CEF, is set to merge into the FT Energy Income Partners Enhanced Income ETF (EIPI) in May 2024. Buying FPL now offers a 2% discount to NAV that will disappear after the merger, and investors will have exposure to the MLP asset class in an unleveraged and less volatile structure.

First Trust Announces Date for the Mergers of First Trust Energy Income and Growth Fund, First Trust MLP and Energy Income Fund, First Trust New Opportunities MLP & Energy Fund and First Trust Energy Infrastructure Fund

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Advisors L.P. (“FTA”) announced today that the mergers of First Trust Energy Income and Growth Fund (NYSE American: FEN), First Trust MLP and Energy Income Fund (NYSE: FEI), First Trust New Opportunities MLP & Energy Fund (NYSE: FPL) and First Trust Energy Infrastructure Fund (NYSE: FIF) (the “Target Funds” or each, individually, a “Target Fund”), each a closed-end management investment company managed by FTA and sub-advised by Energy Income Partn.

First Trust Announces Date for the Mergers of First Trust Energy Income and Growth Fund, First Trust MLP and Energy Income Fund, First Trust New Opportunities MLP & Energy Fund and First Trust Energy Infrastructure Fund

Weekly CEF Roundup: First Trust MLP CEF Mergers Approved, Saba Buys BSTZ, PDX Goes Monthly

5 out of 22 closed-end fund sectors positive on price and 1 out of 22 sectors positive on NAV. Saba targets BSTZ, while PDX moves to a monthly distribution. First Trust MLP CEF mergers are approved by shareholders.

Weekly CEF Commentary | March 3, 2024 | PDX Makes The Change

Markets were flat, but upcoming events like the jobs report, PMIs, and ECB meeting are important.

First Trust Announces Shareholder Approvals of the Mergers

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Advisors L.P. (“FTA”) announced today that shareholders of First Trust Energy Income and Growth Fund (NYSE American: FEN), First Trust MLP and Energy Income Fund (NYSE: FEI), First Trust New Opportunities MLP & Energy Fund (NYSE: FPL) and First Trust Energy Infrastructure Fund (NYSE: FIF) (the “Target Funds” or each, individually, a “Target Fund”), each a closed-end management investment company managed by FTA and sub-advised by Energy Income Part.

First Trust Announces Shareholder Approvals of the Mergers

First Trust Announces Adjournment of Joint Special Meeting of Shareholders

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Advisors L.P. (“FTA”) announced today that the joint special meeting of shareholders of First Trust Energy Income and Growth Fund (NYSE American: FEN), First Trust MLP and Energy Income Fund (NYSE: FEI), First Trust New Opportunities MLP & Energy Fund (NYSE: FPL) and First Trust Energy Infrastructure Fund (NYSE: FIF) (the “Target Funds” or each, individually, a “Target Fund”) held on February 20, 2024 has been adjourned in order to permit addition.

First Trust Announces Adjournment of Joint Special Meeting of Shareholders

First Trust New Opportunities MLP & Energy Fund Declares Monthly Common Share Distributions of $0.0375 Per Share for February, March and April

WHEATON, Ill.--(BUSINESS WIRE)--First Trust New Opportunities MLP & Energy Fund (the "Fund") (NYSE: FPL) has declared the Fund's monthly common share distributions for February, March and April of $0.0375 per share for each month. The payable, record and expected ex-dividend dates, as well as the distribution per share amount for these distributions are as follows: February March April Payable Date: 02/15/24 03/15/24 04/15/24 Record Date: 02/02/24 03/04/24 04/02/24 Expected Ex-Dividend Da.

First Trust New Opportunities MLP & Energy Fund Declares Monthly Common Share Distributions of $0.0375 Per Share for February, March and April

FPL: Impending Merger Creates Opportunity For Significant Gains (Rating Upgrade)

The First Trust New Opportunities MLP & Energy Fund provides a way for retirees and savers to invest in master limited partnerships and midstream infrastructure companies. FPL has a yield of 6.47%, higher than some energy infrastructure corporations and the S&P 500 Index. It is, unfortunately, lower than what peer funds possess. The fund's performance has been strong, outperforming the Alerian MLP Index and delivering better returns even after distributions are included.

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