First Trust High Yield Opportunities 2027 Term Fund
FTHY
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Orlando Purpura
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 120 East Liberty Drive Wheaton IL United States of America 60187
- IPO Date
- Jun 26, 2020
- CIK
- 0001810523
- Website
- ftportfolios.com
- Similar Companies
- Business
- First Trust High Yield Opportunities 2027 Term Fund (FTHY) is a closed-end management investment company that seeks a high level of current income with a secondary objective of capital appreciation. The Fund invests primarily in a diversified portfolio of U.S. dollar-denominated high yield corporate bonds rated below investment grade; secured and unsecured loans; and derivatives including credit default swaps, total return swaps, and futures contracts. It also allocates to high yield sovereign and emerging market bonds, preferred securities, and equities in stressed, distressed, or defaulted issuers, with leverage employed through reverse repurchase agreements and dollar rolls to enhance returns. FTHY operates globally with exposure to issuers across North America, Europe, Latin America, and Asia-Pacific regions, targeting institutional and retail investors seeking income-oriented fixed income strategies; the Fund is managed by First Trust Advisors L.P., founded in 1991 and headquartered in Wheaton, Illinois. In the past two years, FTHY has undergone a significant structural evolution, announcing in May 2024 a plan to convert from a perpetual closed-end fund to a term fund with a mandatory tender offer and liquidation targeted for December 2027, approved by shareholders in August 2024 to provide a defined maturity timeline and potential return of capital. This reorganization reflects a strategic shift to address market discounts to net asset value and improve investor alignment amid challenging high yield market conditions. No major acquisitions, funding rounds, or new product launches have been reported, though the Fund continues to actively manage its portfolio in response to interest rate volatility and credit spread widening observed in 2024-2025.