The fund conversion maintains shareholder exposure while moving from a closed-end fund structure to an actively managed exchange-traded fund (ETF) format.
First Trust Advisors (FTA) has completed the reorganisation of First Trust Senior Floating Rate Income Fund II (NYSE: FCT) into First Trust Flexible Income ETF (NYSE: FFLX), with the transaction taking effect before the NYSE opened on 10 August. As of 30 June, FTA managed or supervised approximately US$368 billion in assets The conversion followed shareholder approval at a special meeting on 25 June and prior approval from the boards of