First Trust High Income Long/Short Fund
FSD
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Louis N. Cohen CFA
- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 120 East Liberty Drive Wheaton IL United States of America 60187
- IPO Date
- Sep 28, 2010
- CIK
- 0001494530
- Website
- ftportfolios.com
- Similar Companies
- Business
- First Trust High Income Long/Short Fund (FSD) is a closed-end fixed-income mutual fund that seeks to provide current income as its primary objective and capital appreciation as its secondary objective. The fund invests primarily in a diversified portfolio of U.S. and foreign high-yield corporate fixed-income securities of varying maturities rated below investment grade, including corporate bonds, debentures, notes, and commercial paper; it employs a long/short strategy utilizing fundamental analysis focused on issuer credit quality, cash flow, financial statements, and market influences. Launched and managed by First Trust Advisors L.P., with MacKay Shields LLC as sub-advisor, the fund was based in Wheaton, Illinois, and targeted income-seeking investors in global fixed-income markets. In a major strategic reorganization completed on July 19, 2024, FSD merged with and into abrdn Income Credit Strategies Fund (NYSE: ACP), with FSD common shareholders receiving ACP common shares at a conversion ratio of 1.893482 based on equivalent net asset values (ACP NAV of $6.6326 per share). This transaction resulted in the termination and delisting of FSD, with its assets integrated into ACP without changes to ACP's investment objectives, strategies, or policies. Prior to the merger, the fund continued monthly common share distributions, such as $0.105 per share declared in late 2023, often comprising net investment income, return of capital, and potential short-term capital gains.