FIRST TRUST MLP AND ENERGY INCOME FUND


Associated tags: Professional Services, FTA, Finance, Security (finance), FTP, FINRA, AIB (NI), Fund, EIP, MLP, Judgement, Financial adviser, Internal Revenue Code, ERISA, Terrorism, Life insurance, Uncertainty, New York Stock Exchange, Hedge fund, Infection

Locations: NEW YORK, FUNDING, UNITED STATES, NORTH AMERICA, ILLINOIS, MIDDLE EAST, UKRAINE, ISRAEL, RUSSIA, EUROPE

First Trust Announces Completion of Mergers

Retrieved on: 
Monday, May 6, 2024
Asset Management, Professional Services, Finance, Target, ARCA, FEI, FPL

First Trust Advisors L.P. (“FTA”) announced today that the mergers of First Trust Energy Income and Growth Fund (NYSE American: FEN), First Trust MLP and Energy Income Fund (NYSE: FEI), First Trust New Opportunities MLP & Energy Fund (NYSE: FPL), and First Trust Energy Infrastructure Fund (NYSE: FIF) (the “Target Funds” or each, individually, a “Target Fund”), into FT Energy Income Partners Enhanced Income ETF (NYSE Arca: EIPI), were successfully completed prior to the opening of the NYSE Arca on May 6, 2024.

Key Points: 
  • First Trust Advisors L.P. (“FTA”) announced today that the mergers of First Trust Energy Income and Growth Fund (NYSE American: FEN), First Trust MLP and Energy Income Fund (NYSE: FEI), First Trust New Opportunities MLP & Energy Fund (NYSE: FPL), and First Trust Energy Infrastructure Fund (NYSE: FIF) (the “Target Funds” or each, individually, a “Target Fund”), into FT Energy Income Partners Enhanced Income ETF (NYSE Arca: EIPI), were successfully completed prior to the opening of the NYSE Arca on May 6, 2024.
  • Through the mergers, wholly-owned subsidiaries of EIPI acquired all of the assets and liabilities of the Target Funds in tax-free transactions, and shares of each Target Fund were converted to newly-issued shares of EIPI in an aggregate amount equal to the value of the net assets of each Target Fund.
  • The transactions took place based upon the Target Funds’ closing net asset values on May 3, 2024.
  • The exchange ratios at which shares of the Target Funds were converted to shares of EIPI are listed below:

First Trust Announces Date for the Mergers of First Trust Energy Income and Growth Fund, First Trust MLP and Energy Income Fund, First Trust New Opportunities MLP & Energy Fund and First Trust Energy Infrastructure Fund

Retrieved on: 
Thursday, April 25, 2024
Banking, Professional Services, Finance, News, Suite, NAV, FTP, AIB (NI), FTA, FEN, ARCA, EIP, FINRA, FEI, FPL, Prospectus, Financial adviser

No assurance can be given as to the exact timing of the closing of the mergers.

Key Points: 
  • No assurance can be given as to the exact timing of the closing of the mergers.
  • Immediately prior to the consummation of the mergers, EIPI will adopt the net asset value (“NAV”) per share of First Trust Energy Infrastructure Fund.
  • FTA is a federally registered investment advisor and serves as the investment advisor of each Target Fund and EIPI.
  • 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.

First Trust Announces Shareholder Approvals of the Mergers

Retrieved on: 
Friday, March 1, 2024
Professional Services, Finance, EIP, ARCA, Suite, Investment, News, NAV, AIB (NI), ETF, Overalls, FTP, Government, Prospectus, FEN, Safety, FPL, MLP, FINRA, Trustee, Target, FEI, FTA, Security (finance)

As previously announced, the mergers were approved by the Boards of Trustees of the Target Funds and EIPI on October 23, 2023.

Key Points: 
  • As previously announced, the mergers were approved by the Boards of Trustees of the Target Funds and EIPI on October 23, 2023.
  • No assurance can be given as to the exact timing of the closing of the mergers.
  • The merger of each Target Fund into EIPI is expected to qualify as a tax-free reorganization for federal income tax purposes.
  • 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.

First Trust Announces Adjournment of Joint Special Meeting of Shareholders

Retrieved on: 
Tuesday, February 20, 2024
Personal Finance, Finance, Professional Services, Other Professional Services, Asset Management, EIP, Prospectus, Suite, Person, Trustee, Meeting, News, AIB (NI), FTP, FEN, FPL, FINRA, Security (finance), FEI, FTA, Target

The joint special meeting of shareholders will reconvene on February 29, 2024 at 12:00 p.m. Central time in the offices of FTA at 120 East Liberty Drive, Suite 400, Wheaton, Illinois (the “Meeting”).

Key Points: 
  • The joint special meeting of shareholders will reconvene on February 29, 2024 at 12:00 p.m. Central time in the offices of FTA at 120 East Liberty Drive, Suite 400, Wheaton, Illinois (the “Meeting”).
  • Shareholders of record of each Target Fund as of the close of business on October 23, 2023 are entitled to vote at the Meeting.
  • Whether or not shareholders plan to attend the Meeting, it is important that their shares be represented and voted at the Meeting.
  • Shareholders may vote their shares by one of the methods described in the proxy materials previously mailed to them, which includes a joint proxy statement and prospectus (the “proxy statement”).

First Trust MLP and Energy Income Fund Declares Monthly Common Share Distributions of $0.05 Per Share for February, March and April

Retrieved on: 
Monday, January 22, 2024
Consulting, Professional Services, Finance, ERISA, Risk, MLP, Uncertainty, Judgement, Federal, EIP, Terrorism, Federal Reserve, Fund, FINRA, Infection, Hamas, Investment, COVID-19, FTA, Internal Revenue Code, FTP, AIB (NI), New York Stock Exchange

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.

Key Points: 
  • 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.
  • 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.

First Trust MLP and Energy Income Fund Declares Monthly Common Share Distributions of $0.05 Per Share for November, December and January

Retrieved on: 
Monday, October 23, 2023
Professional Services, Finance, Terrorism, Infection, FINRA, ERISA, Internal Revenue Code, FTA, Federal Reserve, AIB (NI), Hedge fund, Judgement, Federal, MLP, Risk, FTP, COVID-19, Internal Revenue Code section 409A, EIP, Fund, Investment, New York Stock Exchange, Uncertainty, Life insurance, Security (finance), Financial adviser

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.

Key Points: 
  • 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.
  • 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.

First Trust Advisors Announces Fund Board Approval of Mergers of First Trust Energy Income and Growth Fund, First Trust MLP and Energy Income Fund, First Trust New Opportunities MLP & Energy Fund, and First Trust Energy Infrastructure Fund...

Retrieved on: 
Monday, October 23, 2023
Professional Services, Finance, FEI, Register, Sale, Registration statement, FPL, NYSE, Trustee, FINRA, ERISA, Internal Revenue Code, FTA, Reading, ETF, Person, AIB (NI), Judgement, Nature, MLP, Mergers and acquisitions, FEN, Trust, FTP, EIP, Retirement, NAV, Investment, Security (finance), Financial adviser

Each merger is expected to qualify as a tax-free reorganization for federal income tax purposes.

Key Points: 
  • Each merger is expected to qualify as a tax-free reorganization for federal income tax purposes.
  • Each transaction is subject to shareholder approval and is a separate Merger, and no Merger is contingent upon any other Merger.
  • There is no assurance when or whether such approvals, or any other approvals required for the transactions, will be obtained.
  • FTA is a federally registered investment advisor and serves as the investment advisor of each Target Fund and EIPI.

First Trust MLP and Energy Income Fund Declares Monthly Common Share Distributions of $0.05 Per Share for August, September and October

Retrieved on: 
Thursday, July 20, 2023
Professional Services, Finance, Vaccine, AIB (NI), Uncertainty, New York Stock Exchange, Loss, ERISA, EIP, MLP, COVID-19, Infection, Risk, Terrorism, Judgement, Internal Revenue Code, FTP, Hedge fund, Investment, Internal Revenue Code section 409A, FINRA, Fund, FTA, Disease, Pharmaceutical industry, Life insurance, Security (finance), Financial adviser

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.

Key Points: 
  • 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.
  • 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.

First Trust Closed-End Funds Announce Board’s Decision to Rescind the Funds’ Control Share By-Law

Retrieved on: 
Friday, June 23, 2023
Banking, Professional Services, Finance, Exercise, AIB (NI), FSD, FMY, FAM, MFD, Cyprus Securities and Exchange Commission, FTP, Sumathi Best Television Current Reporting Award, FCT, FFA, Trustee, FPL, FINRA, Security (finance), Fund, NYSE, FEI, FTA, Real estate, Pension fund

The Board has adopted Amended and Restated By-Laws (the “By-Laws”) for the Funds, which reflect the rescission of the Control Share By-Law.

Key Points: 
  • The Board has adopted Amended and Restated By-Laws (the “By-Laws”) for the Funds, which reflect the rescission of the Control Share By-Law.
  • Under the Control Share By-Law, a holder of common shares of a Fund who obtained beneficial ownership of common shares in a “Control Share Acquisition” (as such term was defined in the Control Share By-Law) could exercise voting rights with respect to such shares only to the extent authorized by such Fund’s non-interested shareholders.
  • The Control Share By-Law did not eliminate voting rights for shares acquired in a Control Share Acquisition, but rather entrusted a Fund’s non-interested shareholders with determining whether to approve the authorization of voting rights of such shares.
  • First Trust Advisors L.P. (“FTA”) is a federally registered investment advisor and serves as the Funds’ investment advisor.

First Trust MLP and Energy Income Fund Declares Monthly Common Share Distributions of $0.05 Per Share for May, June and July

Retrieved on: 
Thursday, April 20, 2023
Professional Services, Finance, Vaccine, AIB (NI), Uncertainty, New York Stock Exchange, Loss, ERISA, EIP, MLP, COVID-19, Infection, Risk, Terrorism, Judgement, Internal Revenue Code, FTP, Hedge fund, Investment, FINRA, Fund, FTA, Disease, Clothing, Life insurance, Security (finance), Financial adviser

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.

Key Points: 
  • 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.
  • 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.