First Trust Specialty Finance Stock Price, News & Analysis

First Trust Specialty Finance and Financial Opportunities Fund (FGB) is set to reorganize into FT Confluence BDC & Specialty Finance Income ETF (FBDC) on June 30, 2025. The tax-free reorganization, approved by shareholders on May 5, 2025, will transfer FGB's assets and liabilities to FBDC, with FGB shareholders receiving equivalent FBDC shares based on net asset value. Both funds are managed by First Trust Advisors L.P. and sub-advised by Confluence Investment Management LLC, focusing on providing high current income and attractive total returns through investments in specialty finance and BDC companies. First Trust Advisors manages approximately $255 billion in assets, while Confluence oversees $12.7 billion in assets under management and advisement as of March 2025.

First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB) has announced a quarterly distribution of $0.10 per share, payable on May 30, 2025, to shareholders of record as of May 22, 2025. Based on the May 9, 2025 metrics, this represents a distribution rate of 9.88% based on NAV of $4.05 and 10.31% based on the closing market price of $3.88. The Fund is a diversified, closed-end management investment company focusing on providing high current income and attractive total return by investing at least 80% of managed assets in specialty finance and financial companies. First Trust Advisors L.P. serves as the investment advisor with approximately $258 billion in assets under management, while Confluence Investment Management LLC acts as sub-advisor with $12.7 billion in assets under management and advisement.

First Trust announced that shareholders of First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB) have approved its reorganization into FT Confluence BDC & Specialty Finance Income ETF (FBDC). The reorganization, expected to be tax-free and complete by end of 2025, will transfer FGB's assets and liabilities to FBDC. FGB shareholders will receive FBDC shares equal to their FGB holdings' net asset value. First Trust Advisors, with $258 billion in assets under management as of March 2025, serves as the investment advisor, while Confluence Investment Management, managing $12.7 billion in assets, acts as sub-advisor to both funds. The Confluence team brings over 600 years of combined financial experience and 400 years of portfolio management experience.

First Trust Advisors L.P. (FTA) has announced the adjournment of a special shareholders meeting for First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB). The meeting, originally held on April 21, 2025, will reconvene on May 5, 2025, to allow additional time for shareholders to vote on the proposed reorganization with FT Confluence BDC & Specialty Finance Income ETF (FBDC).

Shareholders of record as of January 10, 2025, are eligible to vote. If approved, the reorganization is expected to complete before the end of 2025. FTA currently manages approximately $258 billion in assets as of March 31, 2025. The sub-advisor, Confluence Investment Management , manages $12.7 billion in assets, with $7.3 billion under management and $5.4 billion under advisement as of December 31, 2024.

First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB) has announced the mailing of proxy materials for a proposed reorganization with FT Confluence BDC & Specialty Finance Income ETF, a newly formed ETF series. Shareholders of record as of January 10, 2025, will vote on the reorganization at a special meeting scheduled for April 21, 2025, at 12:00 p.m. Central time.

First Trust Advisors L.P. (FTA), the fund's investment advisor, manages approximately $266 billion in assets as of January 31, 2025. The fund's sub-advisor, Confluence Investment Management , oversees $12.7 billion in total assets ($7.3B under management, $5.4B under advisement) as of December 31, 2024.

First Trust Specialty Finance and Financial Opportunities Fund (FGB) has announced its quarterly distribution of $0.10 per share, payable on February 28, 2025, to shareholders of record as of February 24, 2025. Based on February 7, 2025 figures, this represents a distribution rate of 8.73% on NAV ($4.58) and 8.99% on market price ($4.45).

The Fund is a diversified, closed-end management investment company seeking high current income and attractive total return. It invests at least 80% of managed assets in specialty finance and financial companies' securities. First Trust Advisors L.P. serves as investment advisor with approximately $256 billion in assets under management as of December 31, 2024. Confluence Investment Management acts as sub-advisor, managing $12.7 billion in total assets.

First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB) has announced a quarterly distribution of $0.10 per share, payable on December 2, 2024, to shareholders of record as of November 22, 2024. Based on the November 11, 2024 NAV of $4.36, the distribution rate is 9.17%, while based on the closing market price of $4.17, it's 9.59%. The Fund is a diversified, closed-end management investment company focusing on specialty finance and financial companies, with FTA managing approximately $245 billion in assets and Confluence serving as sub-advisor with $13.1 billion in assets under management.

First Trust Advisors L.P. (FTA) announced that the Board of Trustees of First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB) has approved its reorganization into an actively managed ETF. The new ETF, FT Confluence BDC & Specialty Finance Income ETF, will be managed by FTA and sub-advised by Confluence Investment Management

The reorganization, expected to be tax-free, will transfer FGB's assets and liabilities to the new ETF, with shareholders receiving equivalent value in new ETF shares. The process is anticipated to be completed in 2025, subject to shareholder approval and regulatory requirements. FGB's 2024 annual shareholder meeting is set for November 12, 2024, with a separate special meeting planned to consider the reorganization.

First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB) announced the results of its special meeting of shareholders held on August 29, 2024. Shareholders were asked to vote on the proposed reorganization of FGB with and into abrdn Total Dynamic Dividend Fund (AOD). The proposal required a majority vote of FGB's outstanding voting securities but failed to secure the necessary support. As a result, FGB will continue to operate independently, pursuing its current investment objectives and policies. The Fund's Board will determine future actions in the best interest of FGB. First Trust Advisors L.P. (FTA), FGB's investment advisor, manages approximately $235 billion in assets as of July 31, 2024, across various investment products.