But before we get started, let's clarify what MLP stands for. MLP stands for master limited partnership, which is a type of publicly traded partnership that is taxed as a partnership, but has the liquidity and tradability of a stock. MLPs typically operate in the energy infrastructure sector, such as pipelines and storage facilities, and offer high dividend yields to investors.

What is First Trust New Opportunities MLP & Energy Fund?

First Trust New Opportunities MLP & Energy Fund is a closed-end fund that invests in MLPs and related entities in the energy sector. The fund is managed by First Trust Advisors L.P., a leading provider of investment products and services.

Symbol of First Trust New Opportunities MLP & Energy Fund

The symbol for First Trust New Opportunities MLP & Energy Fund is FPL, which trades on the New York Stock Exchange. As of June 30, 2021, the fund had total net assets of $1.2 billion and a distribution rate of 6.57%.

Key Features of First Trust New Opportunities MLP & Energy Fund

• The fund invests in U.S. and Canadian MLPs and related entities in the energy sector
• Offers a high dividend yield of 6.57%
• Provides investors with exposure to the energy infrastructure sector
• Managed by a reputable investment management firm

Advantages of First Trust New Opportunities MLP & Energy Fund

• Provides diversification within the energy sector
• Offers attractive dividends to investors
• Invests in high-quality companies with strong fundamentals
• May be suitable for investors seeking income and growth potential

Key Takeaways

• First Trust New Opportunities MLP & Energy Fund is a closed-end fund that invests in MLPs and related entities in the energy sector
• The symbol for the fund is FPL and trades on the New York Stock Exchange
• The fund provides investors with exposure to the energy infrastructure sector and offers a high dividend yield
• Managed by a reputable investment management firm, the fund may be suitable for income and growth-oriented investors seeking diversification within the energy sector

In conclusion, investing in First Trust New Opportunities MLP & Energy Fund may provide investors with an opportunity to earn attractive dividends while diversifying their energy sector holdings. With its strong fundamentals, reputable management, and attractive dividend yield, it's no wonder why this fund is gaining popularity in the market.