-

First Trust Announces Completion of Mergers

WHEATON, Ill.--(BUSINESS WIRE)--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:

 

Ticker

Fund Name

Exchange Ratio

FEN

First Trust Energy Income and Growth Fund

0.880285

FEI

First Trust MLP and Energy Income Fund

0.541658

FPL

First Trust New Opportunities MLP & Energy Fund

0.428077

FIF

First Trust Energy Infrastructure Fund

1

 

FTA is a federally registered investment advisor and serves as the investment advisor of 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. FTA has collective assets under management or supervision of approximately $226 billion as of March 28, 2024 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.

Contacts

Jeff Margolin – (630) 517-7643
Daniel Lindquist – (630) 765-8692
Chris Fallow – (630) 517-7628
Ryan Issakainen – (630) 765-8689

Industry:

First Trust Advisors L.P.

NYSEAM:FEN
Release Versions
English

Contacts

Jeff Margolin – (630) 517-7643
Daniel Lindquist – (630) 765-8692
Chris Fallow – (630) 517-7628
Ryan Issakainen – (630) 765-8689

More News From First Trust Advisors L.P.

First Trust Launches First Trust Bloomberg Space Economy ETF

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Advisors L.P. (“First Trust”), a leading exchange-traded fund (“ETF”) provider and asset manager, announced today that it has launched a new ETF, the First Trust Bloomberg Space Economy ETF (NYSE Arca: FSPC) (the “fund”). The fund seeks investment results that correspond generally to the price and yield (before the fund’s fees and expenses) of the Bloomberg Space Economy Index (the “index”). Space has quietly become one of the most consequential infra...

First Trust Introduces FT Vest Silver Strategy & Target Income ETF (SLVY)

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Advisors L.P. (“First Trust”) announced today that it has launched the FT Vest Silver Strategy & Target Income ETF (Cboe BZX: SLVY) (the “fund”). SLVY is an actively managed exchange-traded fund (“ETF”) that seeks to provide investors with current income and capital appreciation. Managed by Vest Financial LLC, the fund combines options contracts referencing the iShares Silver Trust (“SLV”) and short-term U.S. Treasury securities to pursue both goa...

First Trust Announces Changes to Investment Strategies, Name and Other Related Matters for First Trust RiverFront Dynamic Developed International ETF

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Advisors L.P. (“FTA”) announces the First Trust RiverFront Dynamic Developed International ETF (Nasdaq: RFDI) (the “Fund”), a series of First Trust Exchange-Traded Fund III (the “Trust”), will change its investment strategies, name and other related matters, expected to occur on or around September 14, 2026. The Fund’s new name will be the First Trust Active Factor International ETF and the Fund’s new ticker will be AFDM. In connection with the change...
Back to Newsroom