ET - First Trust MLP CEF Merger Closes Now EIPI ETF

2024-05-21 08:00:00 ET

Summary

• FPL, FEI, FEN, and FIF have merged into FT Energy Income Partners Enhanced Income ETF, EIPI.
• The merger was initiated by activist Saba Capital and resulted in a conversion to an ETF structure, allowing for liquidity at NAV.
• The newly formed ETF, EIPI, has similar holdings to the former constituent funds and employs an options income strategy.

The mergers of First Trust Energy Income and Growth Fund ((FEN)), First Trust MLP and Energy Income Fund ((FEI)), First Trust New Opportunities MLP & Energy Fund ((FPL)), and First Trust Energy Infrastructure Fund ((FIF)) into FT Energy Income Partners Enhanced Income ETF ( EIPI ) were completed on May 6, 2024 ....

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