First Trust Advisors L.P. Announces Continuation of Share Repurchase Programs for Certain Closed-End Funds
Pursuant to each Funds Share Repurchase Program, each Fund may, from time to time and at the direction of management personnel, repurchase up to the amount of shares in each Funds Share Repurchase Program described below in secondary market transactions in accordance with applicable law.
First Trust Advisors L.P. (“FTA”) is pleased to announce that the Board
of Trustees of each of First Trust High Income Long/Short Fund (NYSE:
FSD), First Trust/Aberdeen Emerging Opportunity Fund (NYSE: FEO), and
First Trust/Aberdeen Global Opportunity Income Fund (NYSE: FAM) has
authorized the continuation of each Fund’s Share Repurchase Program.
Pursuant to each Fund’s Share Repurchase Program, each Fund may, from
time to time and at the direction of management personnel, repurchase up
to the amount of shares in each Fund’s Share Repurchase Program
described below in secondary market transactions in accordance with
applicable law. Each Fund’s Share Repurchase Program will continue until
the earlier of (i) the repurchase of the amount of shares remaining in
each Fund’s Share Repurchase Program as noted below (5% of outstanding
shares for FSD and FEO and 4.18% of outstanding shares for FAM, the
remaining amount in FAM’s Share Repurchase Program) or (ii) March 15,
2020.
Fund |
Number of Shares Available for |
First Trust High Income Long/Short Fund | 1,730,614 |
First Trust/Aberdeen Emerging Opportunity Fund | 253,070 |
First Trust/Aberdeen Global Opportunity Income Fund | 533,927 |
Each Fund’s repurchase activity will be disclosed in its shareholder
report for the relevant fiscal period. There is no assurance that any
Fund will purchase shares at any specific levels or in any specific
amounts.
The risks of investing in each Fund are spelled out in its respective
shareholder reports, and other regulatory filings. Each Fund’s daily
closing price and net asset value per share as well as other information
can be found at www.ftportfolios.com
or by calling (800) 988-5891.
FTA is a federally registered investment advisor and serves as the
Funds’ 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 $125
billion as of February 28, 2019 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.
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 and the Internal Revenue
Code. First Trust has no knowledge of and has not been provided any
information regarding any investor. Financial advisors must determine
whether particular investments are appropriate for their clients. First
Trust believes the financial advisor is a fiduciary, is capable of
evaluating investment risks independently and is responsible for
exercising independent judgment with respect to its retirement plan
clients.
This press release does not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these securities in
any state or jurisdiction in which such offer or solicitation or sale
would be unlawful prior to registration or qualification under the laws
of such state or jurisdiction.
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