FBDC: Actively Managed BDC Exposure

2026-04-13 16:38:00 ET

Written by Nick Ackerman, co-produced by Stanford Chemist

It has been a while since we've touched on the FT Confluence BDC & Specialty Finance Income ETF ( FBDC ); in fact, this was the First Trust Specialty Finance and Financial Opportunities Fund under the "FGB" ticker previously. At that time, they were looking to merge the fund into the abrdn Total Dynamic Dividend Fund ( AOD ). However, they were unsuccessful in getting the votes required for approval. Thus, they ended up reorganizing the fund from a closed-end fund structure to an ETF . Shortly after that time, they also conducted a 1-for-5 reverse split ....

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