|
|
Article: First Trust Advisors L.P. Provides Information Relating to Auction Rate Securities.
- Article from:
- Business Wire
- Article date:
- February 20, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
LISLE, Ill. -- First Trust Advisors L.P. ("FTA") today provides the following information related to recent developments in the market for auction rate preferred securities and auction rate notes ("auction rate securities") with respect to the closed-end funds advised by FTA.
As has been widely reported in the financial media, the markets for auction rate securities have experienced a significant decrease in bidders at auctions, resulting in failed auctions for numerous auction rate securities of closed-end funds and other issuers, including certain recent auctions for securities of Energy Growth and Income Fund and First Trust/Four Corners Senior Floating Rate ...