First Trust Specialty Finance and Financial Opportunities Fund Declares its Quarterly Distribution of $0.175 Per Share
February 11 2019 - 4:15PM
Business Wire
First Trust Specialty Finance and Financial Opportunities Fund
(the "Fund") (NYSE: FGB) has declared the Fund's regularly
scheduled quarterly distribution of $0.175 per share. The
distribution will be payable on February 28, 2019, to shareholders
of record as of February 25, 2019. The ex-dividend date is expected
to be February 22, 2019. The quarterly distribution information for
the Fund appears below.
First Trust
Specialty Finance and Financial Opportunities Fund
(FGB):
Distribution per share: $0.175 Distribution Rate based on
the February 8, 2019 NAV of $5.92: 11.82% Distribution Rate based
on the February 8, 2019 closing market price of $6.16: 11.36%
A portion of the distribution may be treated as paid from
sources other than net investment income, including short-term
capital gain, long-term capital gain and return of capital. The
final determination of the source and tax status of all
distributions paid in 2019 will be made after the end of 2019 and
will be provided on Form 1099-DIV.
The Fund is a non-diversified, closed-end management investment
company that seeks to provide a high level of current income. As a
secondary objective, the Fund seeks to provide attractive total
return. The Fund pursues these investment objectives by investing
at least 80% of its managed assets in a portfolio of securities of
specialty finance and other financial companies that the Fund's
investment sub-advisor believes offer attractive opportunities for
income and capital appreciation.
First Trust Advisors L.P. ("FTA") is a federally registered
investment advisor and serves as the Fund's investment advisor. 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 $121 billion as of
January 31, 2019 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.
Confluence Investment Management LLC ("Confluence"), an SEC
registered investment advisor, serves as the Fund's investment
sub-advisor. The Confluence team has more than 500 years of
combined financial experience and 300 years of portfolio management
experience, maintaining a proven track record that dates back to
1994. As of December 31, 2018, Confluence had $7.9 billion dollars
in assets under management and supervision.
Past performance is no assurance of future results. Investment
return and market value of an investment in the Fund will
fluctuate. Shares, when sold, may be worth more or less than their
original cost. There can be no assurance that the Fund’s investment
objectives will be achieved. The Fund may not be appropriate for
all investors.
Principal Risk Factors: The Fund invests in business development
companies ("BDCs") which may be subject to a high degree of risks,
including management's ability to meet the BDC's investment
objective, and to manage the BDC's portfolio when the underlying
securities are redeemed or sold, during periods of market turmoil
and as investors' perceptions regarding a BDC or its underlying
investments change.
Investing in real estate investment trusts ("REITs") involves
certain unique risks in addition to investing in the real estate
industry in general. REITs are subject to interest rate risk and
the risk of default by lessees or borrowers.
The Fund may invest in a variety of other mortgage-related
securities. Rising interest rates tend to extend the duration of
mortgage-related securities, making them more sensitive to changes
in interest rates, and may reduce the market value of the
securities. In addition, mortgage-related securities are subject to
the risk that borrowers may pay off their mortgages sooner than
expected, particularly when interest rates decline. This can reduce
the Fund's returns. The Fund's investments in other asset-backed
securities are subject to risks similar to those associated with
mortgage-backed securities, as well as additional risks associated
with the nature of the assets and the servicing of those
assets.
Because the Fund is concentrated in the financials sector, it
will be more susceptible to adverse economic or regulatory
occurrences affecting this sector, such as changes in interest
rates, availability and cost of capital funds, and competition.
Use of leverage can result in additional risk and cost, and can
magnify the effect of any losses.
The risks of investing in the Fund are spelled out in the
prospectus, shareholder report and other regulatory filings.
The information presented is not intended to constitute an
investment recommendation for, or advice to, any specific person.
By providing this information, First Trust is not undertaking to
give advice in any fiduciary capacity within the meaning of ERISA
and the Internal Revenue Code. First Trust has no knowledge of and
has not been provided any information regarding any investor.
Financial advisors must determine whether particular investments
are appropriate for their clients. First Trust believes the
financial advisor is a fiduciary, is capable of evaluating
investment risks independently and is responsible for exercising
independent judgment with respect to its retirement plan
clients.
The Fund’s daily closing New York Stock Exchange price and net
asset value per share as well as other information can be found at
www.ftportfolios.com or by calling 1-800-988-5891.
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