First Trust Specialty Finance and Financial Opportunities Fund (FGB) Stock

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Specialty Finance and Financial Opportunities Fund (the "Fund") (NYSE: FGB) has declared the Fund's regularly scheduled quarterly distribution of $0.10 per share. The distribution will be payable on August 30, 2024, to shareholders of record as of August 22, 2024. The ex-dividend date is expected to be August 22, 2024. The quarterly distribution information for the Fund appears below. First Trust Specialty Finance and Financial Opportunities Fund (FGB.

First Trust Specialty Finance and Financial Opportunities Fund is set to be acquired by abrdn Total Dynamic Dividend Fund, but it is taking a considerable amount of time. FGB has shown strong performance in the BDC space, but with being acquired, investors are set to own a significantly different underlying portfolio. Currently, the acquisition isn't in the best interest of FGB in terms of the discount valuation between the two; however, being a meaningfully larger fund results in greater liquidity.

As we approach Q2 business development company earnings, we take a look at First Trust Special Finance and Financial Opportunities Fund - a closed-end fund that allocates primarily to BDCs. On paper, the FGB CEF looks like a great buy - take a high-return / high-yield BDC sector, add leverage, active management and a discount, and you should get a great result. The reality is very different - a dart-throwing monkey would have outperformed FGB by around 9% each and every year. We'll take the monkey, thank you.