First Trust Energy Infrastructure Fund (NYSE:FIF) Plans Dividend Increase – $0.06 Per Share

First Trust Energy Infrastructure Fund (NYSE:FIF – Get Rating) declared a monthly dividend on Tuesday, June 21st, Zacks reports. Investors of record on Tuesday, July 5th will be paid a dividend of 0.063 per share by the investment management company on Friday, July 15th. This represents a $0.76 annualized dividend and a yield of 5.61%. The ex-dividend date of this dividend is Friday, July 1st. This is a positive change from First Trust Energy Infrastructure Fund’s previous monthly dividend of $0.06.

First Trust Energy Infrastructure Fund has decreased its dividend by an average of 17.2% annually over the last three years.

Shares of FIF stock opened at $13.48 on Thursday. The company’s 50 day moving average is $14.83 and its 200 day moving average is $14.29. First Trust Energy Infrastructure Fund has a 52-week low of $12.52 and a 52-week high of $15.98.

A number of hedge funds have recently modified their holdings of the stock. Cetera Advisor Networks LLC grew its holdings in First Trust Energy Infrastructure Fund by 18.7% in the first quarter. Cetera Advisor Networks LLC now owns 13,670 shares of the investment management company’s stock worth $208,000 after purchasing an additional 2,156 shares during the last quarter. Bank of America Corp DE grew its holdings in First Trust Energy Infrastructure Fund by 16.3% in the first quarter. Bank of America Corp DE now owns 28,162 shares of the investment management company’s stock worth $429,000 after purchasing an additional 3,952 shares during the last quarter. Raymond James & Associates grew its holdings in First Trust Energy Infrastructure Fund by 8.9% in the first quarter. Raymond James & Associates now owns 183,764 shares of the investment management company’s stock worth $2,799,000 after purchasing an additional 14,971 shares during the last quarter. Finally, UBS Group AG grew its holdings in First Trust Energy Infrastructure Fund by 63.9% in the first quarter. UBS Group AG now owns 435,757 shares of the investment management company’s stock worth $6,637,000 after purchasing an additional 169,878 shares during the last quarter.

First Trust Energy Infrastructure Fund Company Profile (Get Rating)

First Trust Energy Infrastructure Fund is a closed-ended equity mutual fund launched and managed by First Trust Advisors L.P. The fund is co-managed by Energy Income Partners LLC. It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating in the energy infrastructure sector, including pipeline companies, utilities, and other companies that derive at least 50% of their revenues from operating or providing services in support of infrastructure assets such as pipelines, power transmission, and petroleum and natural gas storage in the petroleum, natural gas, and power generation industries.

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