First Trust Value Line(R) Dividend Fund Reorganizes into Exchange-Traded Fund effective December 15, 2006.LISLE, Ill. -- First Trust Advisors L.P. (FTA FTA abbr. Future Teachers of America ) announced that First Trust Value Line([R]) Dividend Fund (FVD FVD Floating Vehicle Data (position location of moving vehicle for purposes of measuring traffic flow) FVD Family Violence Department FVD Fluid Volume Deficit FVD Forward Versatile Disk FVD Forward Video Disc FVD Forward Versatile Disc ), a closed-end fund Closed-end fund An investment company that issues shares like any other corporation and usually does not redeem its shares. A publicly traded fund sold on stock exchanges or over the counter that may trade above or below its net asset value. Related: Open-end fund. , reorganized with and into First Trust Value Line([R]) Dividend Index Fund (FVDIF), an exchange-traded fund and newly created series of First Trust Exchange-Traded Fund (FTETF FTETF First Trust Exchange Traded Fund ), effective Friday, December 15, 2006. FVD ceased trading on the AMEX AMEX See: American Stock Exchange on Friday, December 15, 2006, and FVDIF began trading on the AMEX on Monday, December 18, 2006 under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "FVD," the same ticker symbol used by the closed-end fund. The assets of FVD were transferred to, and the liabilities of FVD were assumed by, FVDIF in exchange for shares of FVDIF on a one share for one share basis based upon the net asset value of FVD on Friday, December 15, 2006. FVDIF shares have been distributed to FVD shareholders, on a tax-free basis for federal income tax purposes, and FVD has been terminated. The investment objective of First Trust Value Line([R]) Dividend Index Fund is to seek investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Value Line([R]) Dividend Index. The investment adviser for FVDIF is FTA. An investor should carefully consider the investment objectives, risks, charges and expenses of FVDIF before investing. The prospectus for FVDIF contains this and other important information and is available free of charge by calling toll-free at 1-800-621-1675 or writing FVDIF at 1001 Warrenville Road, Suite 300, Lisle, Illinois 60532. The prospectus should be read carefully before investing. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion