First Trust New Opportunities MLP & Energy Fund (the “Fund”) (NYSE: FPL) has declared the Funds monthly common share distributions for November, December and January of $0.075 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:
|Expected Ex-Dividend Date:||11/1/18||12/3/18||1/2/19|
|Distribution Per Share:||$0.075||$0.075||$0.075|
The monthly distribution information for the Fund appears below.
First Trust New Opportunities MLP & Energy Fund (FPL):
|Distribution per share:||$0.075|
|Distribution Rate based on the October 19, 2018 NAV of $10.15:||8.87%|
|Distribution Rate based on the October 19, 2018 closing market price of $9.47:||9.50%|
It is anticipated that, due to the tax treatment of cash distributions made by master limited partnerships (“MLPs”) in which the Fund invests, a portion of the distributions the Fund makes to Common Shareholders may consist of a tax-deferred return of capital. The final determination of the source and tax status of all 2018 distributions will be made after the end of 2018 and will be provided on Form 1099-DIV.
The Fund is a non-diversified, closed-end management investment company that seeks a high level of total return with an emphasis on current distributions paid to common shareholders. The Fund will seek to provide its common shareholders with a vehicle to invest in a portfolio of cash-generating securities, with a focus on investing in publicly traded MLPs and MLP-related entities in the energy sector and energy utilities industries that are weighted towards non-cyclical, fee-for-service revenues. Under normal market conditions, the Fund will invest at least 85% of its Managed Assets in equity and debt securities of MLPs, MLP-related entities and other energy sector and energy utilities companies that the Fund’s Sub-Advisor believes offer opportunities for growth and income. To generate additional income, the Fund currently expects to write (or sell) covered call options on up to 35% of its managed assets. The Fund is treated as a regular corporation, or a “C” corporation, for United States federal income tax purposes and, as a result, is subject to corporate income tax to the extent the Fund recognizes taxable income.
First Trust Advisors L.P. (“FTA”) is a federally registered investment advisor and serves as the Fund’s investment advisor. FTA and its affiliate First Trust Portfolios L.P. (“FTP”), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately $134 billion as of September 30, 2018 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. FTA is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. FTA and FTP are based in Wheaton, Illinois.
Energy Income Partners, LLC (“EIP”) serves as the Fund’s investment sub-advisor and provides advisory services to a number of investment companies and partnerships for the purpose of investing in MLPs and other energy infrastructure securities. EIP is one of the early investment advisors specializing in this area. As of September 30, 2018, EIP managed or supervised approximately $6.2 billion in client assets.
Past performance is no assurance of future results. Investment return and market value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost.
Principal Risk Factors: The Fund is subject to risks, including the fact that it is a non-diversified closed-end management investment company. There can be no assurance that the Funds investment objectives will be achieved. The Fund may not be appropriate for all investors.
Because the Fund is concentrated in securities issued by MLPs, MLP-related entities, and other energy and utilities companies, it will be more susceptible to adverse economic or regulatory occurrences affecting those industries, including high interest costs, high leverage costs, the effects of economic slowdown, surplus capacity, increased competition, uncertainties concerning the availability of fuel at reasonable prices, the effects of energy conservation policies and other factors.
The Fund’s use of derivatives may result in losses greater than if they had not been used, may require the Fund to sell or purchase portfolio securities at inopportune times, may limit the amount of appreciation the Fund can realize on an investment, or may cause the Fund to hold a security that it might otherwise sell.
The Fund invests in securities of non-U.S. issuers which are subject to higher volatility than securities of U.S. issuers. Because the Fund invests in non-U.S. securities, you may lose money if the local currency of a non-U.S. market depreciates against the U.S. dollar.
Use of leverage can result in additional risk and cost, and can magnify the effect of any losses.
The risks of investing in the Fund are spelled out in the prospectus, shareholder reports and other regulatory filings.
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA and the Internal Revenue Code. First Trust has no knowledge of and has not been provided any information regarding any investor. Financial advisors must determine whether particular investments are appropriate for their clients. First Trust believes the financial advisor is a fiduciary, is capable of evaluating investment risks independently and is responsible for exercising independent judgment with respect to its retirement plan clients.
The Fund’s daily closing New York Stock Exchange price and net asset value per share as well as other information can be found at www.ftportfolios.com or by calling 1-800-988-5891.
First Trust New Opportunities MLP & Energy Fund
Inquiries: Jane Doyle, 630-765-8775
Analyst Inquiries: Jeff
Broker Inquiries: Jeff Margolin, 630-915-6784