FPL - FPL: Interesting Fund That Seems To Tick The Right Boxes But NAV Destruction Worrying

February, 16 2021 04:56 PM First Trust New Opportunities MLP & Energy Fund of Beneficial Interest

FPL invests in both midstream companies and electric utilities, which are both likely to see growth over the coming years.
Midstream's growth is being driven by growing fossil fuel demand while utilities' growth is being driven by electrification.
The fund is not as diversified as I would like, with a large percentage of its assets tied up in only a few companies.
The fund appears to be overdistributing, although 2020 also was an exceptional year.
The fund yields an impressive 9.2% yield and trades at a huge discount but that NAV history is concerning.

For further details see:

Company Name:	First Trust New Opportunities MLP & Energy Fund of Beneficial Interest
Stock Symbol:	FPL
Market:	NYSE