David R. Rahn Associates buys $2,818,557 stake in First Trust Energy Income & Growth Fund (FEN)

First Trust Energy Income & Growth Fund (FEN) : David R. Rahn Associates scooped up 50,634 additional shares in First Trust Energy Income & Growth Fund during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 2, 2016. The investment management firm now holds a total of 119,481 shares of First Trust Energy Income & Growth Fund which is valued at $2,818,557.First Trust Energy Income & Growth Fund makes up approximately 2.26% of David R. Rahn Associates’s portfolio.

Other Hedge Funds, Including , Wedbush Securities Inc reduced its stake in FEN by selling 637 shares or 3.31% in the most recent quarter. The Hedge Fund company now holds 18,595 shares of FEN which is valued at $438,656. First Trust Energy Income & Growth Fund makes up approx 0.08% of Wedbush Securities Inc’s portfolio.Alexandria Capital boosted its stake in FEN in the latest quarter, The investment management firm added 8 additional shares and now holds a total of 281 shares of First Trust Energy Income & Growth Fund which is valued at $6,927. Doliver Capital Advisors added FEN to its portfolio by purchasing 8,706 company shares during the most recent quarter which is valued at $214,603. First Trust Energy Income & Growth Fund makes up approx 0.18% of Doliver Capital Advisors’s portfolio.Winslow Evans Crocker reduced its stake in FEN by selling 1,101 shares or 5.39% in the most recent quarter. The Hedge Fund company now holds 19,331 shares of FEN which is valued at $471,676. First Trust Energy Income & Growth Fund makes up approx 0.14% of Winslow Evans Crocker’s portfolio. Murphy Capital Management Inc sold out all of its stake in FEN during the most recent quarter. The investment firm sold 9,480 shares of FEN which is valued $231,312.

First Trust Energy Income and Growth Fund (the Fund) is a non-diversified closed-end management investment company. The Fund’s investment objective is to seek a high level of after-tax total return with an emphasis on current distributions paid to shareholders. It seeks to provide its shareholders with a vehicle to invest in a portfolio of cash-generating securities of energy companies. It focuses on investing in publicly traded master limited partnerships (MLPs) and related public entities in the energy sector. It invests at least 85% of its managed assets in securities issued by energy companies energy sector MLPs and MLP-related entities and at least 65% of its managed assets in equity securities of MLPs and MLP-related entities. Its investments include a variety of industries such as pipelines electric power coal propane natural gas utility gathering and processing and marine transportation among others. Its investment advisor is First Trust Advisors L.P.

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