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Tax Exempt Municipal Income, 319  Ticker: FQXRBX
 
Description
This unit investment trust seeks investors with income exempt from federal and applicable state and local income tax and to preserve capital by investing in a portfolio of investment grade municipal bonds.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: FT319
Portfolio Status: Secondary
Initial Offer Date: 07/15/2021
Secondary Date: 09/14/2021
Wtd Avg Maturity: 28.2
ELTR Life: 12.7
Tax Structure: Regulated Investment Company
 
Initial Offer Price: $1,156.5100
NAV(*): $1,085.1300
POP(*): $1,126.8600
PAR(*): $999.9000
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 09/20/2021 4:00pm ET
The Public Offering Price (POP) represents the net asset value per unit plus any applicable organization costs and sales charges. The Net Asset Value (NAV) represents the value per unit of a trust’s portfolio securities and other assets reduced by applicable deferred sales charges and other liabilities.

 Income Information
CUSIP Frequency / Distributions Accrued Interest Estimated Annual Income Estimated Current Return Estimated Long Term Return
33741B803 Monthly $0.9500 $28.2500 2.510% 1.581%


 Holdings  Export Current Holdings | View Initial Holdings  
CUSIPParDescriptionS&P RatingStCouponMaturity(M)
/Escrow(E)
/Refund(R)
Date
Next
Call Date
Call
Price
13032UMP0 100,000 CALIFORNIA ST HLTH FACS FING AUTH 5%, due 11/01/2047  AA- CA 5.00000 11/01/2047M    
162410EN0 140,000 CHATTANOOGA TN HLTH EDUCTNL & HSG FAC BRD REV 3.25%, due 08/01/2044  BBB+ TN 3.25000 08/01/2044M 08/01/2029 100.0000
315162FE2 225,000 FERNDALE MI PUBLIC SCHS 3%, due 05/01/2050  AA MI 3.00000 05/01/2050M 05/01/2030 100.0000
346832BN7 225,000 FORT BEND TX GRAND PKWY TOLL ROAD AUTH 3%, due 03/01/2051  NR TX 3.00000 03/01/2051M 03/01/2031 100.0000
358233BJ2 170,000 FRESNO CA UNIF SCH DIST 3%, due 08/01/2051  NR CA 3.00000 08/01/2051M 08/01/2029 100.0000
359497KV5 200,000 FRUITVALE CA SCH DIST 3%, due 08/01/2047  AA CA 3.00000 08/01/2047M 08/01/2030 100.0000
366133QV1 175,000 GARLAND TX ELEC UTILITY SYS REV 3%, due 03/01/2051  NR TX 3.00000 03/01/2051M 03/01/2031 100.0000
376061AW7 100,000 GILROY CA PUBLIC FACS FING AUTH 3%, due 08/01/2051  AA CA 3.00000 08/01/2051M 08/01/2031 100.0000
38611TDN4 105,000 GRAND PARKWAY TRANSPRTN CORP TX 3%, due 10/01/2050  AA TX 3.00000 10/01/2050M 04/01/2030 100.0000
5742187M9 225,000 MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH 3.50%, due 04/15/2050  A MD 3.50000 04/15/2050M 04/15/2030 100.0000
59334DNG5 350,000 MIAMI-DADE CNTY FL WTR & SWR REV 4%, due 10/01/2051  A+ FL 4.00000 10/01/2051M 10/01/2031 100.0000
59447TXJ7 235,000 MICHIGAN ST FIN AUTH REVENUE 3%, due 12/01/2049  AA- MI 3.00000 12/01/2049M 12/01/2029 100.0000
607735CZ8 320,000 MODESTO CA ELEM SCH DIST 3%, due 08/01/2050  NR CA 3.00000 08/01/2050M 02/01/2030 100.0000
611245AT8 100,000 MONROE OH INCOME TAX REV 3%, due 12/01/2044  AA OH 3.00000 12/01/2044M 12/01/2029 100.0000
6460666L9 350,000 NEW JERSEY ST EDUCTNL FACS AUTH 3%, due 07/01/2050  BBB+ NJ 3.00000 07/01/2050M 07/01/2030 100.0000
64972GZH0 225,000 NEW YORK CITY NY MUNI WTR FIN AUTH 4%, due 06/15/2051  AA+ NY 4.00000 06/15/2051M 06/15/2031 100.0000
685729JL0 200,000 ORCUTT CA UNION SCH DIST 3%, due 08/01/2049  AA- CA 3.00000 08/01/2049M 08/01/2030 100.0000
70917TDZ1 250,000 PENNSYLVANIA ST HGR EDUCTNL FACS AUTH 3%, due 07/15/2041  BBB PA 3.00000 07/15/2041M 07/15/2031 100.0000
70917TEB3 50,000 PENNSYLVANIA ST HGR EDUCTNL FACS AUTH 4%, due 07/15/2051  BBB PA 4.00000 07/15/2051M 07/15/2031 100.0000
74444KCT9 200,000 PUBLIC FIN AUTH WI HLTHCARE FACS 3%, due 10/01/2051  A- WI 3.00000 10/01/2051M 10/01/2031 100.0000
74444KBK9 200,000 PUBLIC FIN AUTH WI HLTHCARE FACS REV 3%, due 01/01/2050  A WI 3.00000 01/01/2050M 01/01/2030 100.0000
748508YX0 225,000 QUINCY MA 2.375%, due 07/01/2051  AA MA 2.37500 07/01/2051M 07/01/2030 100.0000
914374AK9 225,000 UNIV OF KENTUCKY KY CTFS PARTN 3.125%, due 05/01/2049  AA- KY 3.12500 05/01/2049M 05/01/2029 100.0000
916672P93 225,000 UPPER TRINITY TX REGL WTR DIST 3%, due 08/01/2051  AA TX 3.00000 08/01/2051M 08/01/2030 100.0000
920202DS4 225,000 VLY VIEW OH LOCAL SCH DIST 3%, due 11/01/2051  AA OH 3.00000 11/01/2051M 11/01/2030 100.0000
929833CV1 100,000 WACO TX EDUCTNL FIN CORP REVENUE 4%, due 03/01/2051  A+ TX 4.00000 03/01/2051M 03/01/2031 100.0000
 
Total Number of Holdings:    26


Risk Considerations

Buy & Hold Risk – Tax-Free Trusts. This UIT is a buy and hold strategy and investors should consider their ability to hold the trust until maturity.

Insurance Risks. Certain of the securities in the trust are covered by insurance policies obtained by the issuers or underwriters of the bonds from insurance companies. There can be no assurance that any insurer will be able to satisfy its commitments in the event claims are made in the future.

Municipal Bonds Risk. Municipal bonds are subject to numerous risks, including higher interest rates, economic recession, deterioration of the municipal bond market, possible downgrades and defaults of interest and/or principal.

Volatility Risk. The value of the securities held by the trust may be subject to steep declines or increased volatility due to changes in performance or perception of the issuers.

Operational Risk. As the use of Internet technology has become more prevalent in the course of business, the trust has become more susceptible to potential operational risks through breaches in cybersecurity.

Estimated current return is determined by dividing a Trust's estimated net annual interest income per unit by the public offering price per unit. Estimated long-term return is a measure of the estimated return over the estimated life of a Trust. Unlike estimated current return, estimated long-term return reflects maturities, estimated principal prepayments, Trust charges and expenses, and discounts and premiums of securities in a Trust. Returns and prices will fluctuate. Consult a prospectus for a more complete description of the estimated current return and estimated long-term return calculations.

Some of the information may have been obtained from third parties, including ratings from credit ratings agencies such as Standard & Poor's. Reproduction and distribution of third party content in any form is prohibited except with the prior written permission of the related third party. Third party content providers do not guarantee the accuracy, completeness, timeliness or availability of any information, including ratings, and are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or for the results obtained from the use of such content. THIRD PARTY CONTENT PROVIDERS GIVE NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. THIRD PARTY CONTENT PROVIDERS SHALL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, EXEMPLARY, COMPESATORY, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES, COSTS, EXPENSES, LEGAL FEES, OR LOSSES (INCLUDING LOST INCOME OR PROFITS AND OPPORTUNITY COSTS) IN CONNECTION WITH ANY USE OF THEIR CONTENT, INCLUDING RATINGS. Credit ratings are statements of opinions and are not statements of fact or recommendations to purchase, hold or sell securities. They do not address the suitability of securities or the suitability of securities for investment purposes, and should not be relied on as investment advice. Please see the prospectus for a full description of the bond ratings.

You should carefully consider the trust's investment objectives, risks, and charges and expenses before investing. Contact your financial professional or call First Trust Portfolios, L.P. at 1.800.621.1675 to request a prospectus, which contains this and other information about the trust. Read it carefully before you invest.

This product information does not constitute an offer to sell, or a solicitation of an offer to buy securities in any state to any person to whom it is not lawful to make such an offer. Sales of any of these securities must include prospectus delivery and the services of a retail broker/dealer duly licensed in the appropriate states.

Not FDIC Insured, Not Bank Guaranteed and May Lose Value.

Fund Cusip Information
33741B803 (Cash)
33741B811 (Cash-Wrap)
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The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
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