First Trust North American Energy Infrastructure Fund (NYSEARCA:EMLP) Stock Short Interest Drops 70.7%

First Trust North American Energy Infrastructure Fund (NYSEARCA:EMLP) was the target of a large decline in short interest in September. As of September 30th, there was short interest totaling 240,921 shares, a decline of 70.7% from the September 15th total of 822,644 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average trading volume of 438,927 shares, the days-to-cover ratio is currently 0.5 days.

First Trust North American Energy Infrastructure Fund Price Performance

EMLP opened at $42.85 on Wednesday. The stock has a market cap of $4.10 billion, a P/E ratio of 17.59 and a beta of 0.57. The stock’s 50 day simple moving average is $43.29 and its 200 day simple moving average is $43.57. First Trust North American Energy Infrastructure Fund has a 1-year low of $37.18 and a 1-year high of $45.23.

Hedge Funds Weigh In On First Trust North American Energy Infrastructure Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Compass Financial Management LLC purchased a new stake in shares of First Trust North American Energy Infrastructure Fund in the second quarter valued at about $36,000. Bessemer Group Inc. acquired a new stake in shares of First Trust North American Energy Infrastructure Fund in the first quarter valued at approximately $41,000. Eastern Bank acquired a new stake in shares of First Trust North American Energy Infrastructure Fund in the third quarter valued at approximately $85,000. CX Institutional increased its stake in shares of First Trust North American Energy Infrastructure Fund by 19.8% during the 2nd quarter. CX Institutional now owns 2,463 shares of the exchange traded fund’s stock worth $107,000 after purchasing an additional 407 shares in the last quarter. Finally, Centaurus Financial Inc. purchased a new position in shares of First Trust North American Energy Infrastructure Fund during the 1st quarter worth approximately $113,000.

About First Trust North American Energy Infrastructure Fund

The First Trust North American Energy Infrastructure Fund (EMLP) is an exchange-traded fund that is based on the Alerian MLP index. The fund is an actively managed fund that invests in North American energy infrastructure MLPs and LLCs. EMLP was launched on Jun 21, 2012 and is managed by First Trust.