-

First Trust Specialty Finance and Financial Opportunities Fund Announces Results of Special Meeting of Shareholders Relating to the Proposed Reorganization with and into abrdn Total Dynamic Dividend Fund

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB) (the “Fund”), a diversified, closed-end management investment company organized as a Massachusetts business trust, announced today the results of the special meeting of shareholders held on August 29, 2024 (the “Special Meeting”). At the Special Meeting, shareholders were asked to vote on the reorganization of the Fund with and into abrdn Total Dynamic Dividend Fund (“AOD”) (the “Proposal”). The Proposal required the affirmative vote of a majority of the Fund’s outstanding voting securities, as such term is defined in the 1940 Act. The affirmative vote of less than a majority of the Fund’s outstanding voting securities was received, and therefore the Proposal was not approved. The Fund will continue to operate and pursue its current investment objectives and policies, and the Board will take such action as it deems in the best interest of the Fund.

First Trust Advisors L.P. (“FTA) is a federally registered investment advisor and serves as the investment advisor of the Fund. 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 $235 billion as of July 31, 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.

In the United States, abrdn is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, abrdn Asia Limited, and abrdn ETFs Advisors LLC.

Additional Information / Forward-Looking Statements

This press release is not intended to, and shall not, constitute an offer to purchase or sell shares of the Fund or AOD. An investor should carefully consider the investment objectives, risks, charges and expenses of the Fund and AOD before investing.

Certain statements made in this news release that are not historical facts are referred to as “forward-looking statements” under the U.S. federal securities laws. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ from the historical experience of FTA and the funds managed by FTA and its present expectations or projections. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. FTA, the Fund and AOD undertake no responsibility to update publicly or revise any forward-looking statements.

Contacts

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

First Trust Advisors L.P.

NYSE:FGB

Release Versions

Contacts

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

More News From First Trust Advisors L.P.

First Trust Announces Adjournment of Special Shareholder Meeting for First Trust Active Global Quality Income ETF

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Advisors L.P. (“FTA”) announced today that the special shareholder meeting for First Trust Active Global Quality Income ETF (the “Fund”), a series of First Trust Exchange-Traded Fund VIII (the “Trust”), has been adjourned in order to permit additional solicitation of shareholders. The special shareholder meeting for the Fund will reconvene on Thursday, October 15, 2026 at 12:00 p.m. Central time at the offices of FTA at 120 East Liberty Drive, Suite 40...

First Trust Expands Its Autocallable Income ETFs with ACYB

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Advisors L.P. ("First Trust"), a leading exchange-traded fund ("ETF") provider and asset manager, announced it has launched the FT Vest Laddered Autocallable Buffer & Resilient Income ETF (NYSE Arca: ACYB) (the “fund”). ACYB is an actively managed ETF that seeks to provide investors with distributions while providing reduced downside risk to equity markets. The fund seeks to achieve its objective by entering into swap agreements and/or option cont...

First Trust Enhanced Equity Income Fund Issues Notice Regarding September 2026 Distribution

WHEATON, Ill.--(BUSINESS WIRE)--The Board of Trustees of First Trust Enhanced Equity Income Fund (the "Fund") (NYSE: FFA), CUSIP 337318109, previously approved a managed distribution policy for the Fund (the "Managed Distribution Plan") in reliance on exemptive relief received from the Securities and Exchange Commission which permits the Fund to make periodic distributions of long-term capital gains more frequently than otherwise permitted with respect to its common shares subject to certain co...
Back to Newsroom