FIRST TRUST HIGH INCOME LONG/SHORT FUND

FSD

Market cap $407M

Aurora Innovation (AUR) hits the gas in the autonomous industry. The driverless truck company joined Nvidia (NVDA) and Continental in a long-term partnership to expend its footprint throughout the decade.

PHILADELPHIA & WHEATON, Ill.--(BUSINESS WIRE)--abrdn Income Credit Strategies Fund (NYSE: ACP) (“ACP” or the “Acquiring Fund”) and First Trust High Income Long/Short Fund (NYSE: FSD) (“FSD” or the “Acquired Fund”) announce today the completed reorganization of the Acquired Fund with the Acquiring Fund after close of regular business on July 19, 2024. In the reorganization, common shareholders of FSD received an amount of ACP common shares with a net asset value equal to the aggregate net asset.

This article discusses the upcoming merger of First Trust High Income Long/Short Fund into abrdn Income Credit Strategies Fund. The merger of FSD into ACP was approved, with shares to de-list on July 19, 2024. FSD shareholders to receive NAV for NAV shares in ACP, which is trading at a premium to NAV.

PHILADELPHIA, PA / ACCESSWIRE / July 9, 2024 / The Board of Trustees of abrdn Income Credit Strategies Fund (NYSE:ACP) ("ACP" or the "Acquiring Fund") previously announced that shareholders of First Trust High Income Long/Short Fund (NYSE:FSD) ("FSD" or the "Acquired Fund"), advised by First Trust Advisors L.P., have approved the proposed reorganization into ACP ("Reorganization") and today announces that the Reorganization is expected to close at the close of business on July 19, 2024, subject to the satisfaction of customary closing conditions.

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Advisors L.P. (“FTA”) previously announced that shareholders of First Trust High Income Long/Short Fund (NYSE: FSD) (“FSD”), a diversified, closed-end management investment company organized as a Massachusetts business trust, have approved the reorganization of FSD with and into abrdn Income Credit Strategies Fund (“ACP”), a diversified, closed-end management investment company organized as a Delaware statutory trust. Subject to the satisfaction of ce.

WHEATON, Ill.--(BUSINESS WIRE)--First Trust High Income Long/Short Fund (the "Fund") (NYSE: FSD) has declared the Fund's regularly scheduled monthly common share distribution in the amount of $0.105 per share payable on July 15, 2024, to shareholders of record as of July 1, 2024. The ex-dividend date is expected to be July 1, 2024. The monthly distribution information for the Fund appears below. First Trust High Income Long/Short Fund (FSD): Distribution per share:.

First Trust High Inc Long/Short Fund has a higher yield than most other closed-end funds investing in high-yield bonds. The FSD closed-end fund has outperformed the Bloomberg U.S. Aggregate Bond Index and the Bloomberg High Yield Very Liquid Index over the past several months. The fund's leverage is slightly higher than its peers, but it is not a cause for concern.

PHILADELPHIA, PA / ACCESSWIRE / May 31, 2024 / The Board of Trustees of abrdn Income Credit Strategies Fund (NYSE:ACP), announces today that shareholders of First Trust High Income Long/Short Fund (NYSE:FSD) ("FSD" or the "Acquired Fund") advised by First Trust Advisors L.P. have approved the proposed reorganization into ACP ("Reorganization") which is targeted to be completed before the end of July or as soon as practicable thereafter, subject to the satisfaction of customary closing conditions.

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Advisors L.P. (“FTA”) announced today the results of the joint special meeting of shareholders of each of First Trust High Income Long/Short Fund (NYSE: FSD) (“FSD”) and First Trust/abrdn Global Opportunity Income Fund (NYSE: FAM) (“FAM” and collectively with FSD, the “Funds”) held on May 30, 2024. Shareholders of FSD, a diversified, closed-end management investment company organized as a Massachusetts business trust, have approved the reorganization.

The return of Keith Gill (aka Roaring Kitty), a prominent figure in the meme stocks saga, may have sparked a brief revival of the investing trend last week. However, the latest latest meme wave has come and gone.