WHEATON, Ill.--(BUSINESS WIRE)--First Trust Advisors LP ("First Trust") announced today that the Board of Trustees ("Board") of First Trust Exchange-Traded Fund II (the "Trust"), on behalf of First Trust Indxx Global Agriculture ETF (the "Fund"), an index-based exchange-traded fund (Nasdaq: FTAG) approved a 1 for 5 reverse share split.
The reverse share split will result in every five outstanding shares being converted into one share, thereby reducing the number of shares outstanding. Fractional shares will be paid out in cash to the beneficial shareholder. Once the reverse share split is complete, each shareholder's account will reflect one-fifth fewer shares with a net asset value per share that reflects the combined shares. The Fund's shares will continue to trade under the same ticker symbol, FTAG. The Fund's current CUSIP number 33734X820 will be replaced by a new CUSIP number, 33734X812. First Trust currently anticipates the reverse share split will be effective as of the opening of business on The Nasdaq Stock Market, LLC on or about May 2, 2016, subject to all regulatory requirements and other conditions being satisfied.
The Fund, formerly the First Trust Global Platinum Index Fund, launched on March 12, 2010. The Fund's investment objective is to seek investment results that correspond generally to the price and yield, before the Funds fees and expenses, of an equity index called the Indxx Global Agriculture Index.
First Trust Advisors LP, the Fund's investment advisor, along with its affiliate, First Trust Portfolios LP, are privately-held companies which provide a variety of investment services, including asset management and financial advisory services, with collective assets under management or supervision of approximately $96 billion as of March 31, 2016 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.
You should consider the investment objective, risk, charges and expenses of the Fund before investing. The prospectus for the Fund contains this and other important information and is available free of charge by calling toll-free 1-800-621-1675 or visiting http://www.ftportfolios.com. The prospectus should be read carefully before investing.