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First Trust Announces Adjournment of the Joint Special Meeting of Shareholders
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First Trust High Income Long/Short Fund is a diversified, closed-end management investment company. The Fund's primary investment objective is to provide current income. The Fund has a secondary objective of capital appreciation. The Fund will seek to achieve its investment objectives by investing, under normal market conditions, a majority of its assets in a diversified portfolio of U.S. and foreign (including emerging markets) high-yield corporate fixed-income securities of varying maturities that are rated below-investment grade at the time of purchase. The Fund's investments in below-investment grade fixed-income securities are commonly referred to as “high-yield” or “junk” bonds and are considered speculative with respect to the issuer's capacity to pay interest and repay principal.
First Trust High Income Long Short Common Shares Of Beneficial Interest trades on the NYSE stock market under the symbol FSD.
As of April 22, 2024, FSD stock price climbed to $11.41 with 91,748 million shares trading.
FSD has a beta of 0.90, meaning it tends to be less sensitive to market movements. FSD has a correlation of 0.58 to the broad based SPY ETF.
FSD has a market cap of $379.85 million. This is considered a Small Cap stock.
In the last 3 years, FSD stock traded as high as $16.16 and as low as $10.20.
FSD has underperformed the market in the last year with a return of +11.2%, while the SPY ETF gained +22.3%. In the last 3 month period, FSD fell short of the market, returning +0.7%, while SPY returned +3.9%. However, in the most recent 2 weeks FSD has outperformed the stock market by returning -1.5%, while SPY returned -3.6%.
FSD support price is $11.27 and resistance is $11.43 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that FSD stock will trade within this expected range on the day.