First Trust Specialty Finance and Financial Opportunities Fund

First Trust Specialty Finance & Financial Opportunities Fund is a non-diversified and closed-end management investment company. It engages on investments in a portfolio of securities of specialty finance and other financial companies under normal market conditions. The company was founded in 2007 and is headquartered in Wheaton, IL.

First Trust Specialty Finance & Financial Opportunities Fund is a closed-end management investment company. It engages in the business of investing, under normal market conditions, at least eighty percent of its managed assets in a portfolio of securities of specialty finance and other financial companies that Confluence Investment Management LLC believes offer attractive opportunities for income and capital appreciation. The company was founded on March 20, 2007 and is headquartered in Wheaton, IL.

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Specialty Finance and Financial Opportunities Fund (the "Fund") (NYSE: FGB) has declared the Fund's regularly scheduled quarterly distribution of $0.10 per share. The distribution will be payable on December 2, 2024, to shareholders of record as of November 22, 2024. The ex-dividend date is expected to be November 22, 2024. The quarterly distribution information for the Fund appears below. First Trust Specialty Finance and Financial Opportunities Fund.

First Trust Specialty Finance and Financial Opportunities Fund Declares its Quarterly Distribution of $0.10 Per Share

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Advisors L.P. (“FTA”) announced today that the Board of Trustees of First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB), a closed-end fund managed by FTA, approved the reorganization (the “Reorganization”) of FGB into FT Confluence BDC & Specialty Finance Income ETF, a newly created exchange-traded fund (“ETF”) that will be traded on the NYSE and will be an actively managed ETF managed by FTA and sub-advised by Confluence In.

Board of First Trust Specialty Finance and Financial Opportunities Fund Approves Conversion into an ETF and sets date of Annual Shareholder Meeting

Alpine Total Dynamic Dividend Fund

PHILADELPHIA, PA / ACCESSWIRE / August 29, 2024 / The Board of Trustees of abrdn Total Dynamic Dividend Fund (NYSE:AOD) ("AOD"), announces that shareholders of First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) ("FGB"), advised by First Trust Advisors L.P., did not attain a 1940 Act quorum at its adjourned special meeting of shareholders on August 29, 2024 and therefore there were insufficient votes to pass the proposed reorganization proposal.

abrdn Total Dynamic Dividend Fund (AOD) Announces Update on Proposed Acquisition of Assets from First Trust Specialty Finance and Financial Opportunities 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”.

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 Advisors L.P. (“FTA”) announced today that the special meeting of shareholders of First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB) (the “Fund”) held on August 22, 2024, has been adjourned in order to permit additional solicitation of shareholders and to allow shareholders additional time to vote on the reorganization of the Fund with and into abrdn Total Dynamic Dividend Fund (“AOD”). The special meeting of shareholders of th.

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

First Trust Specialty Finance and Financial Opportunities Fund is set to be acquired by abrdn Total Dynamic Dividend Fund, but it is taking a considerable amount of time. FGB has shown strong performance in the BDC space, but with being acquired, investors are set to own a significantly different underlying portfolio. Currently, the acquisition isn't in the best interest of FGB in terms of the discount valuation between the two; however, being a meaningfully larger fund results in greater liquidity.

FGB: Potential Acquisition Taking An Extended Amount Of Time

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Specialty Finance and Financial Opportunities Fund (the "Fund") (NYSE: FGB) has increased its regularly scheduled quarterly distribution to $0.10 per share from $0.0825 per share The distribution will be payable on May 31, 2024, to shareholders of record as of May 23, 2024. The ex-dividend date is expected to be May 22, 2024. The quarterly distribution information for the Fund appears below. First Trust Specialty Finance and Financial Opportunities Fu.

First Trust Specialty Finance and Financial Opportunities Fund Increases its Quarterly Distribution to $0.10 Per Share

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Specialty Finance and Financial Opportunities Fund (the "Fund") (NYSE: FGB) has declared the Fund's regularly scheduled quarterly distribution of $0.0825 per share. The distribution will be payable on February 29, 2024, to shareholders of record as of February 23, 2024. The ex-dividend date is expected to be February 22, 2024. The quarterly distribution information for the Fund appears below. First Trust Specialty Finance and Financial Opportunities F.

First Trust Specialty Finance and Financial Opportunities Fund Declares its Quarterly Distribution of $0.0825 Per Share

BlackRock Energy and Resources Trust

Morgan Stanley India Investment Fund Inc

PIMCO Energy and Tactical Credit Opportunities Fund

Adams Natural Resources Fund Inc

For the second straight month, both equity (-3.12% on a NAV basis) and fixed income (-1.94%) CEFs on average suffered downside performance. At month end, 9% of all CEFs traded at a premium to their NAV, with 11% of equity CEFs and 8% of fixed income CEFs trading in premium territory. Energy MLP CEFs (-0.72%), for the second month in a row, mitigated losses better than the other classifications in the equity CEF universe for September.

The Month In Closed-End Funds: September 2023

As we approach Q2 business development company earnings, we take a look at First Trust Special Finance and Financial Opportunities Fund - a closed-end fund that allocates primarily to BDCs. On paper, the FGB CEF looks like a great buy - take a high-return / high-yield BDC sector, add leverage, active management and a discount, and you should get a great result. The reality is very different - a dart-throwing monkey would have outperformed FGB by around 9% each and every year. We'll take the monkey, thank you.

FGB: Remains A Pass For Serious BDC Investors

The First Trust Specialty Finance & Financial Opportunities Fund has 93% of its fund invested in BDCs, which have been benefiting from rising interest rates. FGB offers a potential opportunity with its own double-digit discount, with its largest holdings invested in top-tier BDCs like Hercules Capital and Main Street Capital. FGB should be starting to see the benefit from the underlying BDCs as they ramp up their own dividends to investors, which should improve distribution coverage for FGB's payout.

FGB: Basket Of BDCs At A Discount

FGB has become an interesting fund to trade on occasion when larger-than-usual discounts open up. Recently, we've seen that discount open up once again to over 13%.

FGB: Back In Deep Discount Territory

Oaktree Specialty Lending

PennantPark Floating Rate Capital

Saratoga Investment

Trinity Capital

We take a look at the action in business development companies through the fourth week of January and highlight some of the key themes we are watching. BDCs had another good week with the sector approaching a double-digit return this year already.

BDC Weekly Review: Another Year Of Underperformance For BDC CEF FGB

Aberdeen Income Credit Strategies Fund

Virtus AllianzGI Diversified Income & Convertible Fund

Alpine Global Dynamic Dividend Fund

Aberdeen Standard Global Infr Inc Fd

Delaware Investments Dividend and Income Fund

Delaware Enhanced Global Dividend & Income Fund

Eagle Point Credit

Virtus Stone Harbor Emerging Markets Income Fund 

Stone Harbor Emerging Markets Total Income Fund

Eaton Vance Tax-Managed Buy-Write Opportunities Fund

Eaton Vance Tax-Advantaged Bond & Opportunity Stategies Fund

Gabelli Multimedia Trust

Clough Global Dividend and Income Fund

Eagle Capital Growth Fund Inc

Gabelli Utility Trust

Ivy High Income Opportunities Fund

Macquarie Global Infrastructure Total Return Fund Inc

Nuveen Massachusetts Quality Municipal Income Fund

Nuveen New York Select Tax-Free Income Portfolio

OFS Credit Company Inc

Pimco California Municipal Income Fund II

Pimco Municipal Income Fund II

Putnam Municipal Opportunities Trust

Pimco California Municipal Income Fund III

Nuveen NASDAQ 100 Dynamic Overwrite Fund

RiverNorth Opportunities Fund, Inc.

Cohen & Steers Real Estate Opportunities and Income Fund

Cohen & Steers Reit And Preferred Income Fund Inc

Cohen & Steers Quality Income Realty Fund

TCW Strategic Income Fund

Delaware Investments

22 out of 23 CEF sectors positive on price and 22 out of 23 sectors positive on NAV last week. All sectors were positive last week.

Weekly Closed-End Fund Roundup: Special Distributions Coming Up (December 4, 2022)

Eagle Point Income Company Inc

Nuveen Real Estate Income Fund

PIMCO Dynamic Income Fund

PIMCO Dynamic Income Opportunities Fund

PIMCO Income Strategy Fund II

Tortoise Energy Infrastructure

Western Asset Diversified Income Fund

XAI Octagon Floating Rate & Alternative Income Term Trust

The markets have added to the gains they started in October. I add to my investments every month; however, this month, I did quite a bit of movement with several positions I sold too.

4 Closed-End Fund Buys In The Month Of November 2022

First Trust Advisors L.P. Announces Portfolio Manager Update for First Trust Specialty Finance and Financial Opportunities Fund

FGB's latest report showed that net investment income jumped quite meaningfully. That should leave it in a better position to maintain its high double-digit yield.

FGB: Attractive Discount And Distribution Coverage Jumps

The fund invests primarily in BDCs, despite the more open-ended name of "finance and financial opportunities." BDCs were holding up relatively well, with the latest declines and discount expansion making a more attractive investment for FGB.

FGB: Discount And Decline Make This An Interesting Play

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Specialty Finance and Financial Opportunities Fund (the "Fund") (NYSE: FGB) has declared the Fund's regularly scheduled quarterly distribution of $0.0825 per share. The distribution will be payable on May 31, 2022, to shareholders of record as of May 23, 2022. The ex-dividend date is expected to be May 20, 2022. The quarterly distribution information for the Fund appears below. First Trust Specialty Finance and Financial Opportunities Fund (FGB):

First Trust Specialty Finance and Financial Opportunities Fund Declares Its Quarterly Distribution of $0.0825 Per Share

FGB has been performing about flat for the year, which is better than most other investments at this time. This might be surprising since it is generally a riskier position, but this is because BDCs can actually benefit from higher interest rates.

FGB: Higher Interest Rates Make This Fund Hold Up Better

FGB is a fund that we've successfully traded in the past; now that it is back at a discount, it looks appealing once again. The fund is a bit of a fund of funds approach, but instead of other ETFs or CEFs, it invests in a basket of BDCs.

FGB: Discount Indicates A Good Buying Opportunity

The current discount for FGB is quite appealing, this fund had regularly traded at premiums before 2020. The fund's distribution rate comes to 8.33%, but had been cut twice over the last couple of years.

FGB: Discounted BDC Exposure With An 8.33% Distribution Yield

FGB has an attractive yield near 8% if it can sustain the distribution. I continue my series on CEFs where I look beyond the yield.

Evaluating CEFs: FGB Is Not A Replacement For BIZD

A distribution cut last year created an opportunity to buy into FGB as the fund went to some deep discount levels.

FGB: BDC Exposure Through A Closed-End Fund With A Strong Yield

Barings Global Short Duration High Yield Fund

ClearBridge Energy MLP Fund Inc

ClearBridge Energy MLP Total Return Fund Inc

ClearBridge Energy MLP Opportunity Fund Inc

Cohen & Steers MLP Income & Energy Opportunity Fund Inc

Pimco High Income Fund

For the first month in three, equity CEFs on average posted positive returns, rising 9.86% on a NAV basis for November. While for the eighth month in a row, fixed income CEFs witnessed returns in the black (+3.51%).

News for First Trust Specialty Finance and Financial Opportunities Fund ETF (FGB)