Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow First Trust: 

Search by Ticker, Keyword or CUSIP       
First Trust Dividend and Income Fund (FAV)
Investment Objective/Strategy - The First Trust Dividend and Income Fund is a diversified, closed-end management investment company. The Fund's primary investment objective is to seek a high level of current income. Its secondary objective is capital appreciation. The Fund will seek to achieve its investment objectives by investing at least 80% of its managed assets in a diversified portfolio of dividend paying multi-cap equity securities, debt securities and senior secured floating rate loans that offer the potential for attractive income and/or capital appreciation.
There can be no assurance that the Fund's investment objectives will be achieved.
Fund Overview
Fund TypeEquity Income
Investment AdvisorFirst Trust Advisors L.P.
Portfolio Manager/Sub-AdvisorChartwell Investment Partners
Investor Servicing AgentBNY Mellon Investment Servicing (US) Inc.
Fiscal Year-End11/30
Inception Price$20.00
Inception NAV$19.10
Current Fund Data (as of 8/29/2014)
Closing NAV1$10.40
Closing Share Price2$9.29
Discount to NAV10.67%
Total Managed Assets$109,909,588
Common Shares Outstanding8,259,517
Dividend FrequencyQuarterly
Dividend Per Share Amt3$0.1700
Distribution Rate47.32%
Daily Volume60,519
Average 30-Day Daily Volume33,238
Closing Share Price 52-Week High/Low$9.57 / $8.10
Closing NAV 52-Week High/Low$10.56 / $9.18
Expense Ratios (as of 5/31/2014)
Annual ExpensesPercent of
Net Assets
Percent of
Management Fees1.26%1.00%
Other Expenses
Total Operating Expenses1.74%1.38%
Leverage Costs0.23%0.18%
Total Annual Expenses1.97%1.56%
Leverage costs include interest, fees and any upfront/offering costs associated with borrowings by the Fund.
Leverage Information (as of 8/29/2014)6
Total Net Assets with Leverage$109,909,588
Amount Attributable to Common Shares$85,909,588
Amount Attributable to Preferred Shares$0
Amount Attributable to Other Borrowings$24,000,000
Leverage (% of Total Net Assets)21.84%
Top 10 Holdings (as of 7/31/2014)7
Holding Percent
JPMorgan Chase & Co. 3.17%
Royal Dutch Shell PLC 2.27%
Pfizer, Inc. 1.93%
Wells Fargo & Co. 1.90%
Altria Group, Inc. 1.66%
Regal Entertainment Group 1.66%
Intel Corp. 1.64%
AT&T, Inc. 1.62%
U.S. Bancorp 1.61%
Verizon Communications, Inc. 1.60%
S&P Ratings Breakdown for Sr. Loans (as of 7/31/2014)7
  S&P Rating Percent
BBB- 0.39%
BB+ 0.82%
BB 6.45%
BB- 5.93%
B+ 32.59%
B 43.87%
B- 5.42%
CCC+ 2.46%
CCC 0.41%
NR (Privately Rated securities) 1.66%
The ratings are by Standard & Poor's except where otherwise indicated. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are only privately rated. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. "NR" indicates no rating. The credit ratings shown relate to the credit worthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change.
Share Price and NAV History (Since Inception)
Past performance is not indicative of future results.
% Premium/Discount (Since Inception)
Cumulative Total Returns (as of 7/31/2014)5
Period Share Price NAV
3 Months 6.52% 3.31%
1 Year 16.88% 15.97%
3 Years 24.04% 31.07%
5 Years 32.89% 64.75%
Year to Date 10.19% 7.45%
Inception to Date 0.99% 16.23%
Calendar Year Returns (as of 12/31/2013)5
Period Share Price NAV
2008 -30.03% -35.62%
2009 45.83% 21.68%
2010 -0.93% 9.68%
2011 -15.47% -0.59%
2012 -1.81% -0.31%
2013 25.63% 24.61%
Average Annual Returns (as of 7/31/2014)5
Period Share Price NAV
3 Years 7.44% 9.44%
5 Years 5.85% 10.50%
Inception to Date 0.14% 2.22%
Portfolio Information (as of 7/31/2014)7
% of Equity Portfolio with Call Options55.20%
Asset Type Breakdown (as of 7/31/2014)7
Asset Percent
Equity 76.94%
Fixed Income 23.06%
Sector Breakdown (as of 7/31/2014)7
  Sector Percent
Financials 27.33%
Consumer Discretionary 17.26%
Energy 13.09%
Health Care 11.86%
Information Technology 8.55%
Industrials 6.41%
Consumer Staples 5.49%
Telecommunication Services 4.31%
Materials 4.25%
Utilities 1.45%
1 The NAV represents the fund's net assets (assets less liabilities) divided by the fund's common shares outstanding.
2 Fund shares are purchased and sold on an exchange at their share price rather than net asset value (NAV), which may cause the shares to trade at a price greater than NAV (premium) or less than NAV (discount).
3 Most recent distribution paid or declared through today's date. Subject to change in the future.
4 Distribution rates are calculated by annualizing the most recent distribution paid or declared through today's date and then dividing by the most recent market price. The distribution consists of the sum of net investment income, net realized short-term capital gains, net realized long-term capital gains, and return of capital. Distribution rates may vary. Any distribution adjustment will not be reflected until after the declaration date for the next distribution. See the fund's 19a-1 Notices, if any, located under the "News & Literature" section of the website for estimates of distribution sources. Final determination of the source and tax status of all distributions paid in the current year will be made after year-end.
5 Total return is the combination of reinvested dividend income and reinvested capital gains distributions, at prices obtained by the Dividend Reinvestment Plan, if any, and changes in the NAV and Share Price. The NAV total return takes into account the fund's total annual expenses and does not reflect sales load. Past performance is not indicative of future results.
6 Leverage is a technique where a closed-end fund's manager borrows assets at one rate and invests the proceeds from the borrowed assets at another rate, seeking to increase yield and total return. Use of leverage can result in additional risk and cost, and can magnify the effect of any losses.
7 Market value information used in calculating the percentages is based upon trade date plus one recording of transactions, which can differ from regulatory financial reports (Forms N-CSR and N-Q) that are based on trade date recording of security transactions. Holdings are subject to change.

Risk Considerations

Investment and market risk, management risk, sub-advisor risk, value investing risk, dividend strategy risk, qualified dividend tax risk, equity securities risk, small and medium cap company risk, non-U.S. securities risk, emerging markets risk, preferred stock risk, convertible securities risk, REIT risk, master limited partnership risk, fixed-income securities risk, market discount from net asset value risk, derivatives risk, portfolio turnover risk, leverage risk, market disruption risk, defensive positions risk, inflation risk, certain affiliations risk, anti-takeover risk, secondary market for the Fund's shares, and lending portfolio securities risk.

Qualified Dividend Tax Risk: There can be no assurance as to what portion of the distributions paid to the Fund's Common Shareholders will consist of tax-advantaged qualified dividend income. Certain distributions designated by the Fund as derived from qualified dividend income will be taxed in the hands of non-corporate Common Shareholders at the rates applicable to long-term capital gain, provided certain holding period and other requirements are satisfied by both the Fund and the Common Shareholders. Additional requirements apply in determining whether distributions by foreign issuers should be regarded as qualified dividend income. Certain investment strategies of the Fund will limit the Fund's ability to meet these requirements and consequently will limit the amount of qualified dividend income received and distributed by the Fund.

The risks of investing in the Fund are spelled out in the prospectus, shareholder report and other regulatory filings.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value
First Trust Portfolios L.P.  Member SIPC and FINRA.
First Trust Advisors L.P.
Home |  Important Legal Information |  Privacy Policy |  Business Continuity Plan
Copyright © 2014 All rights reserved.