First Trust High Income Long/short Fund (NYSE:FSD) announced a monthly dividend on Tuesday, August 22nd, Wall Street Journal reports. Shareholders of record on Wednesday, September 6th will be paid a dividend of 0.1266 per share on Friday, September 15th. This represents a $1.52 dividend on an annualized basis and a yield of 9.04%. The ex-dividend date is Friday, September 1st. This is a positive change from First Trust High Income Long/short Fund’s previous monthly dividend of $0.13.
First Trust High Income Long/short Fund has decreased its dividend by an average of 8.6% annually over the last three years.
Shares of First Trust High Income Long/short Fund (FSD) opened at 16.80 on Wednesday. The firm’s 50-day moving average is $17.03 and its 200-day moving average is $16.96. First Trust High Income Long/short Fund has a one year low of $14.91 and a one year high of $18.12.
In other news, major shareholder Saba Capital Management, L.P. sold 14,474 shares of First Trust High Income Long/short Fund stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $17.11, for a total value of $247,650.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 479,320 shares of company stock valued at $8,204,453.
About First Trust High Income Long/short Fund
First Trust High Income Long/Short Fund is a diversified, closed-end management investment company. The Fund’s primary investment objective is to provide current income. The Fund’s secondary objective is capital appreciation. The Fund seeks to achieve its investment objectives by investing, under normal market conditions, a majority of its assets in a diversified portfolio of the United States and foreign, including emerging markets high-yield corporate fixed-income securities of varying maturities that are rated below-investment grade at the time of purchase.
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