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First Trust Advisors L.P. announced the reorganization of the First Trust Mega Cap AlphaDEX® Fund (Nasdaq: FMK) into the First Trust Dow 30 Equal Weight ETF (NYSE Arca: EDOW), effective December 14, 2020. This decision followed the approval by shareholders on November 9, 2020, and the Board of Trustees on January 30, 2020. The reorganization is expected to be tax-free, with FMK's assets transferred to EDOW, providing shareholders with equivalent value shares of the new fund.
First Trust Advisors announced that shareholders of the First Trust Mega Cap AlphaDEX Fund (FMK) have approved the reorganization into the First Trust Dow 30 Equal Weight ETF (EDOW). This decision was made at a Special Meeting on November 9, 2020, with prior board approval on January 30, 2020. The transaction is expected to close by the end of 2020, pending customary conditions. Upon completion, FMK's assets will transfer to EDOW, with shareholders receiving shares equivalent to the net asset value of their FMK holdings. The reorganization aims to be tax-free.
First Trust Advisors L.P. announced the adjournment of the joint special meeting for shareholders of the First Trust Mega Cap AlphaDEX Fund (Nasdaq: FMK) and First Trust Dow 30 Equal Weight ETF (NYSE Arca: EDOW). This adjournment allows shareholders more time to vote on the proposed reorganization to combine FMK with EDOW. The reconvened meeting is scheduled for November 9, 2020. FMK seeks investment results corresponding to the Nasdaq AlphaDEX Mega Cap Index, while EDOW targets the Dow Jones Industrial Average Equal Weight Index. FTA manages approximately $149 billion in assets.
First Trust Advisors L.P. announced the adjournment of the joint special meeting of shareholders for First Trust Mega Cap AlphaDEX Fund (FMK) and First Trust Dow 30 Equal Weight ETF (EDOW) to allow more time for shareholder voting on a proposed reorganization. The meeting will reconvene on October 19, 2020. FMK is designed to track the Nasdaq AlphaDEX Mega Cap Index, while EDOW tracks the Dow Jones Industrial Average Equal Weight Index. FTA manages approximately $152 billion in assets as of August 31, 2020.
