First Trust Specialty Finance and Financial Opportunities Fund Completes Reorganization into FT Confluence BDC & Specialty Finance Income ETF
Reuters
Jun 30, 2025
<a href="https://laohu8.com/S/FGB">First Trust Specialty Finance</a> and Financial Opportunities Fund Completes Reorganization into FT Confluence BDC & Specialty Finance Income ETF
First Trust Advisors L.P. has announced the successful completion of the reorganization of the First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB) into the FT Confluence BDC & Specialty Finance Income ETF (NYSE: FBDC). This reorganization, approved by shareholders in May 2025 and the Board of Trustees in September 2024, was finalized before the NYSE opened on June 30, 2025. The transaction involved transferring FGB's assets and liabilities to FBDC, with shareholders receiving FBDC shares equivalent to the net asset value of their FGB holdings. The newly formed FBDC is an actively managed ETF aiming to provide high current income and attractive total returns by investing in business development companies and other specialty finance firms. Confluence Investment Management LLC continues as sub-advisor, leveraging its extensive financial expertise.
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