According to Ignites, two closed end funds are about to be switched to exchange traded funds. First Trust Advisors’ Value Line Dividend Fund (XFVDX) and Value Line & Ibbotson Equity Allocation Fund (XFVIX) are waiting for approval to become an ETF. These would be the first closed end funds to make the change. Experts are hoping the transition will go well and believe this may be more common in the future. First Trust hopes the conversion will take place prior to January 31st.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.