First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) will be liquidated following approval by the Board of Trustees of First Trust Exchange-Traded Fund III, based on a recommendation from First Trust Advisors L.P. (FTA).
Shareholders may sell shares on the market until the end of trading on January 8, 2027, which is also the last day the fund will accept creation and redemption orders before its shares are de-listed. The fund is expected to liquidate on or around January 15, 2027. Investors holding shares on the liquidation date will receive a cash redemption equal to the net asset value per share after payment or provision for all charges, taxes, expenses and liabilities. The company states that shareholders generally will recognize a capital gain or loss on redemption, and that the portfolio may shift to cash around January 8, 2027, causing deviation from the fund’s stated strategy and objective.