First Trust Announces Implementation of Changes to Investment Strategy, Name and Ticker for Mid Cap US Equity Select ETF
07 June 2024 - 11:25PM
Business Wire
First Trust Advisors L.P. (“FTA”) previously announced that the
Board of Trustees of First Trust Exchange-Traded Fund VI (“Trust”)
voted to approve a change to the investment strategy, name and
ticker symbol for Mid Cap US Equity Select ETF (the “Fund”), an
index-based exchange-traded fund and a series of the Trust.
Beginning on June 10, 2024, the Fund will seek investment results
that correspond generally to the price and yield (before the Fund’s
fees and expenses) of an index called The SMID Capital Strength
Index (the “New Index”). Currently, the Fund seeks investment
results that correspond generally to the price and yield (before
the Fund’s fees and expenses) of an equity index called the Nasdaq
Riskalyze US Mid Cap Index. According to Nasdaq, Inc., the index
provider of the New Index, the New Index seeks to provide exposure
to well capitalized small and mid-sized companies with strong
market positions. Additionally, beginning on June 10, 2024, the
Fund’s name will change to First Trust SMID Capital Strength ETF
and its new ticker symbol will be FSCS. The Fund’s CUSIP is not
expected to change. The Fund’s shares will continue to be listed
for trading on Nasdaq, Inc.
FTA is a federally registered investment advisor and serves as
the Fund’s investment advisor. FTA and its affiliate First Trust
Portfolios L.P. (“FTP”), a FINRA registered broker-dealer, are
privately-held companies that provide a variety of investment
services. FTA has collective assets under management or supervision
of approximately $218 billion as of April 30, 2024 through unit
investment trusts, exchange-traded funds, closed-end funds, mutual
funds and separate managed accounts. FTA is the supervisor of the
First Trust unit investment trusts, while FTP is the sponsor. FTP
is also a distributor of mutual fund shares and exchange-traded
fund creation units. FTA and FTP are based in Wheaton,
Illinois.
You should consider the Fund’s investment objective, risks,
charges and expenses carefully before investing. You can download a
prospectus or contact FTA to request a prospectus, which contains
other information about the Fund. Read it carefully before you
invest. The risks of investing in the Fund are spelled out in its
prospectus, shareholder reports and other regulatory filings.
The information presented is not intended to constitute an
investment recommendation for, or advice to, any specific person.
By providing this information, First Trust is not undertaking to
give advice in any fiduciary capacity within the meaning of ERISA
and the Internal Revenue Code. First Trust has no knowledge of and
has not been provided any information regarding any investor.
Financial advisors must determine whether particular investments
are appropriate for their clients. First Trust believes the
financial advisor is a fiduciary, is capable of evaluating
investment risks independently and is responsible for exercising
independent judgment with respect to its retirement plan
clients.
This press release does not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer or
solicitation or sale would be unlawful prior to registration or
qualification under the laws of such state or jurisdiction.
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