First Trust New Opportunities MLP & Energy Fund Declares its Monthly Common Share Distribution of $0.105 Per Share for May
April 19 2018 - 4:55PM
Business Wire
First Trust New Opportunities MLP & Energy Fund (the "Fund")
(NYSE: FPL) has declared the Fund’s regularly scheduled monthly
common share distribution in the amount of $0.105 per share payable
on May 15, 2018, to shareholders of record as of May 2, 2018. The
ex-dividend date is expected to be May 1, 2018. The monthly
distribution information for the Fund appears below.
First Trust New
Opportunities MLP & Energy Fund (FPL):
Distribution per
share: $0.105 Distribution Rate based on the April 18, 2018 NAV of
$10.15: 12.41% Distribution Rate based on the April 18, 2018
closing market price of $10.79: 11.68%
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., the Fund's investment advisor, along
with its affiliate, First Trust Portfolios L.P., are privately-held
companies which provide a variety of investment services, including
asset management and financial advisory services, with collective
assets under management or supervision of approximately $121
billion as of March 31, 2018 through unit investment trusts,
exchange-traded funds, closed-end funds, mutual funds and separate
managed accounts.
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 March 31, 2018, EIP managed or supervised approximately $5.7
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.
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
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180419006488/en/
First Trust New Opportunities MLP & Energy FundPress
Inquiries:Jane Doyle, 630-765-8775orAnalyst Inquiries:Jeff
Margolin, 630-915-6784orBroker Inquiries:Jeff Margolin,
630-915-6784
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