First Trust Announces Expected Effective Date of First Trust Specialty Finance and Financial Opportunities Fund Reorganization into FT Confluence BDC & Specialty Finance Income ETF
Reorganization Announcement: First Trust Advisors L.P. announced the reorganization of First Trust Specialty Finance and Financial Opportunities Fund (FGB) into FT Confluence BDC & Specialty Finance Income ETF (FBDC), effective June 30, 2025, following shareholder approval on May 5, 2025.
Investment Objectives: Both FGB and FBDC aim to provide high current income and attractive total returns by investing in specialty finance companies, with FBDC being an actively managed ETF that will assume FGB's assets and liabilities upon completion of the transaction.
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First Trust Announces Upcoming CUSIP Change for FT Confluence BDC & Specialty Finance ETF
Reverse Share Split Announcement: First Trust Advisors L.P. announced a 1-for-5 reverse share split for the FT Confluence BDC & Specialty Finance ETF (FBDC), effective around August 4, 2025, with a new CUSIP number to be assigned.
Fund Management and Objectives: The Fund aims to provide high current income and attractive total return by investing in business development and specialty finance companies, managed by Confluence Investment Management LLC, which has extensive financial experience and significant assets under management.
Monday's ETF with Unusual Volume: FBDC
ETF Performance Overview: On Monday, Blue Owl Capital (OBDC) and Ares Capital (ARCC) experienced slight declines in trading volume, while Kayne Anderson BDC (KBDC) saw a minor increase, and Sixth Street Specialty Lending (TSLX) faced a notable drop.
Market Activity Insight: The ETF with unusual volume for the day was identified as FBDC, reflecting significant trading activity among its components.
First Trust Announces Completion of First Trust Specialty Finance and Financial Opportunities Fund Reorganization into FT Confluence BDC & Specialty Finance Income ETF
Reorganization Announcement: First Trust Advisors L.P. has completed the reorganization of the First Trust Specialty Finance and Financial Opportunities Fund (FGB) into the FT Confluence BDC & Specialty Finance Income ETF (FBDC), following shareholder approval on May 5, 2025.
Investment Objectives: FBDC aims to provide high current income and attractive total return by investing in Business Development Companies (BDCs) and specialty finance companies, with management provided by FTA and Confluence Investment Management LLC.
First Trust Announces Expected Effective Date of First Trust Specialty Finance and Financial Opportunities Fund Reorganization into FT Confluence BDC & Specialty Finance Income ETF
Reorganization Announcement: First Trust Advisors L.P. announced the reorganization of First Trust Specialty Finance and Financial Opportunities Fund (FGB) into FT Confluence BDC & Specialty Finance Income ETF (FBDC), effective June 30, 2025, following shareholder approval on May 5, 2025.
Investment Objectives: Both FGB and FBDC aim to provide high current income and attractive total returns by investing in specialty finance companies, with FBDC being an actively managed ETF that will assume FGB's assets and liabilities upon completion of the transaction.
First Trust Announces Upcoming CUSIP Change for FT Confluence BDC & Specialty Finance ETF
Reverse Share Split Announcement: First Trust Advisors L.P. announced a 1-for-5 reverse share split for the FT Confluence BDC & Specialty Finance ETF (FBDC), effective around August 4, 2025, with a new CUSIP number to be assigned.
Fund Management and Objectives: The Fund aims to provide high current income and attractive total return by investing in business development and specialty finance companies, managed by Confluence Investment Management LLC, which has extensive financial experience and significant assets under management.
Monday's ETF with Unusual Volume: FBDC
ETF Performance Overview: On Monday, Blue Owl Capital (OBDC) and Ares Capital (ARCC) experienced slight declines in trading volume, while Kayne Anderson BDC (KBDC) saw a minor increase, and Sixth Street Specialty Lending (TSLX) faced a notable drop.
Market Activity Insight: The ETF with unusual volume for the day was identified as FBDC, reflecting significant trading activity among its components.
First Trust Announces Completion of First Trust Specialty Finance and Financial Opportunities Fund Reorganization into FT Confluence BDC & Specialty Finance Income ETF
Reorganization Announcement: First Trust Advisors L.P. has completed the reorganization of the First Trust Specialty Finance and Financial Opportunities Fund (FGB) into the FT Confluence BDC & Specialty Finance Income ETF (FBDC), following shareholder approval on May 5, 2025.
Investment Objectives: FBDC aims to provide high current income and attractive total return by investing in Business Development Companies (BDCs) and specialty finance companies, with management provided by FTA and Confluence Investment Management LLC.
First Trust Announces Expected Effective Date of First Trust Specialty Finance and Financial Opportunities Fund Reorganization into FT Confluence BDC & Specialty Finance Income ETF
Reorganization Announcement: First Trust Advisors L.P. announced the reorganization of First Trust Specialty Finance and Financial Opportunities Fund (FGB) into FT Confluence BDC & Specialty Finance Income ETF (FBDC), effective June 30, 2025, following shareholder approval on May 5, 2025.
Investment Objectives: Both FGB and FBDC aim to provide high current income and attractive total returns by investing in specialty finance companies, with FBDC being an actively managed ETF that will assume FGB's assets and liabilities upon completion of the transaction.
