FPL Stock Summary and Trading Ideas (First Trust New Opportunities MLP & Energy Common Shares Of Beneficial Interest | NYSE:FPL)

First Trust New Opportunities MLP & Energy Fund (the "Fund") is a non-diversified, closed-end management investment company. The Fund's investment objective is to seek a high level of total return with an emphasis on current distributions paid to common shareholders. The Fund seeks to provide its shareholders with a vehicle to invest in a portfolio of cash-generating securities, with a focus on investing in publicly traded master limited partnerships ("MLPs") and MLP-related entities in the energy sector and energy utilities industries. Under normal market conditions, the Fund will invest 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 that the Fund's sub-advisor believes offer opportunities for growth and income. Under normal circumstances, the Fund will invest at least 65% of its managed assets in equity securities issued by energy sector MLPs and energy sector and energy utilities MLP-related entities. To generate additional income, the Fund currently expects to write (or sell) covered call options on up to 35% of its managed assets.

First Trust New Opportunities MLP & Energy Common Shares Of Beneficial Interest trades on the NYSE stock market under the symbol FPL.

As of April 18, 2024, FPL stock price climbed to $7.53 with 29,957 million shares trading.

FPL has a beta of 0.51, meaning it tends to be less sensitive to market movements. FPL has a correlation of 0.12 to the broad based SPY ETF.

FPL has a market cap of $176.56 million. This is considered a Micro Cap stock.

In the last 3 years, FPL stock traded as high as $7.77 and as low as $4.90.

FPL has outperformed the market in the last year with a price return of +30.8% while the SPY ETF gained +22.2%. FPL has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +12.2% and -2.1%, respectively, while the SPY returned +5.2% and -2.6%, respectively.

FPL support price is $7.34 and resistance is $7.48 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that FPL stock will trade within this expected range on the day.