First Trust Value Line 100 Fund (FVL)

All Comments on FVL

  • commenter
    ETF Wanderer
    May 13 12:23 PM
    My Website
    Exchange-Traded Funds and Closed-End Funds by Asset Class, Type and Provider [view article]
    can you please update this list? thanks. Reply
  • commenter
    SeekingAlpha
    Editors
    Apr 06 05:17 AM
    My Website
    General Discussion on FVL
    Is this a buy or a sell? Reply
  • commenter
    User 110789
    Oct 03 06:54 PM
    Exchange-Traded Funds and Closed-End Funds by Asset Class, Type and Provider [view article]
    Are there any EFT funds that are purelt composed of vietnam companies? lasmatas@yahoo.com Reply
  • commenter
    davcnslt
    Jul 31 10:33 PM
    My Website
    Many ETFs, Few Investment Opportunities: 127 Investable Funds [view article]
    Richard,
    Your post is a nifty piece of work, and very helpful as I am currently reconstructing our portfolio (who isn't?). Many thanks, it is much appreciated. Incidentally, I had no problems saving the jpg files in the enlarged format as of 10:00 am asia pac time (10 pm EST). Best Regards,
    Gary Davis     Reply
  • commenter
    Richard Shaw
    Jul 20 07:51 PM
    My Website
    Many ETFs, Few Investment Opportunities: 127 Investable Funds [view article]
    roncohen,

    Actually the clickable images are 560 pixels wide. Some browsers reduce large images (they are quite tall) and if you put your mouse over certain parts of the image you get an enlargement icon that allows you to see them it full. They are actually quite large and easy to read.

    Richard     Reply
  • commenter
    roncohen
    Jul 20 04:22 PM
    Many ETFs, Few Investment Opportunities: 127 Investable Funds [view article]
    IN LARGER SIZE;

    roncohen@davtv.com

    Thank you!     Reply
  • commenter
    Mary Ellen
    Stevens
    Jul 17 05:43 PM
    Many ETFs, Few Investment Opportunities: 127 Investable Funds [view article]
    Mary, I have reported this issue to SeekingAlpha, but need more information to potentially help you. What are you using MAC or PC? That can make a diifferent sometimes. This was done on PC and unfortunately I have MACS, but not at my curren tlocation (on vacation). Just tested SeekingAlpha and my blog and the images open as intended on PC.

    There may be (1) a cross-platform file compatability issue, (2) a temporary internet glitch that may not be a problem if you try again now, or (3) some kind of operator error.

    If you try again and it fails, email me and I will send you the image files as attachments:

    richard.shaw@QVMgroup....     Reply
  • commenter
    P. Bishop
    Jul 17 02:57 PM
    Many ETFs, Few Investment Opportunities: 127 Investable Funds [view article]
    Unable to enlarge/open the 2nd & 3rd tables (sponsor-name, by 3 yr) at Seeking Alpha & on your blog.

    Can you pls repost?
    Thanks.
    Pat     Reply
  • commenter
    Walter Baer
    Jun 20 03:59 PM
    On the First Trust Value Line 100 ETF Conversion: Advantages and Drawbacks [view article]
    Or a 5th result: the fund sues the investor, as RHR is doing, to avoid outcomes (1) - (4). Reply
  • commenter
    Ralph F
    Jun 20 10:02 AM
    On the First Trust Value Line 100 ETF Conversion: Advantages and Drawbacks [view article]
    "There are four things that eventually happen when closed-end funds trade at large discounts and sophisticated, large investors get involved... Otherwise, the large asset management companies will not find it lucrative enough to bring out new closed-end funds and they will die out."

    Why shouldn't they die out? If they trade at discounts to net asset value, they're a lousy deal for the initial investors, and the 4 outcomes you mention are just the market's way of closing the discount.     Reply
  • commenter
    Thus spake
    Zarathustra
    Jun 19 09:32 PM
    On the First Trust Value Line 100 ETF Conversion: Advantages and Drawbacks [view article]
    Give me a break!

    That all sounds very nice, but the real facts are these:

    Doliver showed up with a large position in FVI, which continued to trade at a large discount. First Trust decided to recommend a conversion to an ETF to head off an unannounced, yet perceived threat. A few days later, they added FVD to their conversion list, rather than go to war with Art Lipson who had acquired a large position of that fund at a discount and was rattling his sabre. First Trust neglected to include FVL in the list of conversions, because there were no threats to FVL at that time. Next, they liquidated FVI in order to avoid a proxy fight over its conversion. Lipson supported the FVD conversion and it went through. A few months later, Doliver showed up with a large position in FVL. First Trust then announced that they would convert it into an ETF as well, heading off another perceived threat. Apparently, there was no opposition to the FVL conversion, and it was recently completed.

    There are four things that eventually happen when closed-end funds trade at large discounts and sophisticated, large investors get involved: (1) they convert into or merge with open-end funds, (2) they liquidate, (3) they convert to ETF's, or (4) they announce managed distribution policies that involve high payouts and returns of investor's capital.

    Certainly someone needs to put a stop this this sort of thing. Otherwise, the large asset management companies will not find it lucrative enough to bring out new closed-end funds and they will die out. Perhaps we need legislation that makes acquiring large positions in discounted closed-end funds illegal.     Reply
  • commenter
    grinninbrit
    May 19 11:02 AM
    Converting Closed-End Funds to ETFs: Has the Trend Begun? [view article]
    Yes, and if the problem were excessive discounts, that is less the case now than its ever been.. many funds are trading at premiums and even large premiums to NAV. Discounts are very low, especially if you look at this historically. Much less a compelling reason to convert than in the past. Reply
  • commenter
    chamois16
    May 18 09:21 AM
    Converting Closed-End Funds to ETFs: Has the Trend Begun? [view article]
    There seems to be a prevailing view here that discounts for closed-end funds are somehow undesirable. The discount is te natural investor offset to the fund's fees, adjusted for the liquidity of the CEF portfolio. Iow, plain vanilla equity CEF deserve a higher discount than bond or more sphisticated portfolio holdings such as syndicated loans and derivatives. The issue ought not be the discount, but the extent of excursions from it which imply CEF investor sentiment different from that of the broader market.

    The prinicpal disadvantage of CEF is their low daily trading volumes, which limit their utility for larger investors. Otoh, there are many offsetting advantages, such as leverage, hugher yields and freedom from cash drag, which make CEF attractive to average retail investors.

    The reasons why CEF managers would want to convert to ETF on a large scale are certainly not clear, nor is the rationale which might be persuasive to CEF investors.     Reply
  • commenter
    Richard Kang
    May 18 08:42 AM
    My Website
    Converting Closed-End Funds to ETFs: Has the Trend Begun? [view article]
    FL: Speculation on the markets is fine but speculation on future CEF-ETF conversions is beyond difficult and in my opinion a rather pointless exercise. Unless you have idea of some form of arbitrage strategy where you take a position in the CEF and a simultaneous offsetting position in the underlyilng basket (or other strategy) but I don't see how this conversion can be used for an opportunistic trader. Reply
  • commenter
    Frank Li
    May 18 03:44 AM
    Converting Closed-End Funds to ETFs: Has the Trend Begun? [view article]
    This is very interesting, because conversion to an ETF is probably a much faster way of closing any discount to NAV than, for example, doing a tender.

    How about writing something about which CEFs trading at discounts to NAV are the most likely candidates to become ETFs, Richard???
    :-)     Reply
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