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First Trust Advisors L.P. announced that shareholders of the First Trust Municipal CEF Income Opportunity ETF (MCEF) voted to approve a shift from a fund-of-funds strategy to direct investments in municipal debt securities. The ETF will be renamed First Trust Flexible Municipal High Income ETF, with a new ticker symbol, MFLX, effective April 14, 2022. Additionally, a transition period of 30 to 60 days will follow the press release to align assets with the new strategy. First Trust manages approximately $216 billion in assets as of March 31, 2022.
