The First Trust New Opportunities MLP & Energy Fund (NYSE:FPL) is a closed-end fund that invests primarily in energy sector Master Limited Partnerships (MLPs) and other midstream equities. The objective here is total return with a high level of current income considering a current yield of 10.8% achieved with the use of underlying leverage and return of capital distributions. This is a market segment that has lagged going back to the collapse in energy prices from 2014. The major players in the sector have been crushed given exposure to highly leverage and high