First Trust MLP and Energy Income Fund (the "Fund") (NYSE: FEI)
has declared the Fund’s monthly common share distributions for May,
June and July of $0.05 per share for each month.
The payable, record and expected ex-dividend dates, as well as
the distribution per share amount for these distributions are as
follows:
May
June
July
Payable Date:
05/15/23
06/15/23
07/17/23
Record Date:
05/02/23
06/02/23
07/05/23
Expected Ex-Dividend Date:
05/01/23
06/01/23
07/03/23
Distribution Per Share:
$0.05
$0.05
$0.05
The monthly distribution information for the Fund appears
below.
First Trust MLP and Energy Income
Fund (FEI):
Distribution per share:
$0.05
Distribution Rate based on the
April 19, 2023 NAV of $9.17:
6.54%
Distribution Rate based on the
April 19, 2023 closing market price of $7.81:
7.68%
It is anticipated that, due to the tax treatment of cash
distributions made by master limited partnerships ("MLPs") in which
the Fund invests, a portion of the distributions the Fund makes to
Common Shareholders may consist of a tax-deferred return of
capital. The final determination of the source and tax status of
all distributions paid in 2023 will be made after the end of 2023
and will be provided on Form 1099-DIV.
The Fund is a non-diversified, closed-end management investment
company that seeks to provide a high level of total return with an
emphasis on current distributions paid to common shareholders. The
Fund seeks to provide its common shareholders with a vehicle to
invest in a portfolio of cash-generating securities, with a focus
on investing in publicly-traded MLPs and MLP-related entities in
the energy sector and energy utilities industries. Under normal
market conditions, the Fund invests at least 85% of its managed
assets in equity and debt securities of MLPs, MLP-related entities
and other energy sector and energy utilities companies. To generate
additional income, the Fund expects to write (or sell) covered call
options on up to 35% of its managed assets. The Fund is treated as
a regular corporation, or a "C" corporation, for United States
federal income tax purposes and, as a result, is subject to
corporate income tax to the extent the Fund recognizes taxable
income.
First Trust Advisors L.P. ("FTA") is a federally registered
investment advisor and serves as the Fund's investment advisor. FTA
and its affiliate First Trust Portfolios L.P. ("FTP"), a FINRA
registered broker-dealer, are privately-held companies that provide
a variety of investment services. FTA has collective assets under
management or supervision of approximately $195 billion as of March
31, 2023 through unit investment trusts, exchange-traded funds,
closed-end funds, mutual funds and separate managed accounts. FTA
is the supervisor of the First Trust unit investment trusts, while
FTP is the sponsor. FTP is also a distributor of mutual fund shares
and exchange-traded fund creation units. FTA and FTP are based in
Wheaton, Illinois.
Energy Income Partners, LLC ("EIP") serves as the Fund's
investment sub-advisor and provides advisory services to a number
of investment companies and partnerships for the purpose of
investing in MLPs and other energy infrastructure securities. EIP
is one of the early investment advisors specializing in this area.
As of March 31, 2023, EIP managed or supervised approximately $5.1
billion in client assets.
Principal Risk Factors: Risks are inherent in all investing.
Certain risks applicable to the Fund are identified below, which
includes the risk that you could lose some or all of your
investment in the Fund. The principal risks of investing in the
Fund are spelled out in the Fund's annual shareholder reports. The
order of the below risk factors does not indicate the significance
of any particular risk factor. The Fund also files reports, proxy
statements and other information that is available for
review.
Past performance is no assurance of future results. Investment
return and market value of an investment in the Fund will
fluctuate. Shares, when sold, may be worth more or less than their
original cost. There can be no assurance that the Fund's investment
objectives will be achieved. The Fund may not be appropriate for
all investors.
Securities held by a fund, as well as shares of a fund itself,
are subject to market fluctuations caused by factors such as
general economic conditions, political events, regulatory or market
developments, changes in interest rates and perceived trends in
securities prices. Shares of a fund could decline in value or
underperform other investments as a result of the risk of loss
associated with these market fluctuations. In addition, local,
regional or global events such as war, acts of terrorism, spread of
infectious diseases or other public health issues, recessions, or
other events could have a significant negative impact on a fund and
its investments. Such events may affect certain geographic regions,
countries, sectors and industries more significantly than others.
In February 2022, Russia invaded Ukraine which has caused and could
continue to cause significant market disruptions and volatility
within the markets in Russia, Europe, and the United States. The
hostilities and sanctions resulting from those hostilities could
have a significant impact on certain fund investments as well as
fund performance. The COVID-19 global pandemic and the ensuing
policies enacted by governments and central banks have caused and
may continue to cause significant volatility and uncertainty in
global financial markets. While the U.S. has resumed "reasonably"
normal business activity, many countries continue to impose
lockdown measures. Additionally, there is no guarantee that
vaccines will be effective against emerging variants of the
disease.
The Fund is subject to risks, including the fact that it is a
non-diversified closed-end management investment company.
Because the Fund is concentrated in securities issued by MLPs,
MLP-related entities, and other energy and utilities companies, it
will be more susceptible to adverse economic or regulatory
occurrences affecting those industries, including high interest
costs, high leverage costs, the effects of economic slowdown,
surplus capacity, increased competition, uncertainties concerning
the availability of fuel at reasonable prices, the effects of
energy conservation policies and other factors.
The Fund invests in securities of non-U.S. issuers which are
subject to higher volatility than securities of U.S. issuers.
Because the Fund invests in non-U.S. securities, you may lose money
if the local currency of a non-U.S. market depreciates against the
U.S. dollar.
Use of leverage can result in additional risk and cost, and can
magnify the effect of any losses.
The risks of investing in the fund are spelled out in the
shareholder report and other regulatory filings.
The information presented is not intended to constitute an
investment recommendation for, or advice to, any specific person.
By providing this information, First Trust is not undertaking to
give advice in any fiduciary capacity within the meaning of ERISA,
the Internal Revenue Code or any other regulatory framework.
Financial professionals are responsible for evaluating investment
risks independently and for exercising independent judgment in
determining whether investments are appropriate for their
clients.
The Fund's daily closing New York Stock Exchange price and net
asset value per share as well as other information can be found at
https://www.ftportfolios.com or by calling 1-800-988-5891.
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