First Trust Advisors L.P. (“FTA”) announced today that as of Friday, April 8, 2022, First Trust CEF Income Opportunity ETF (Nasdaq: FCEF) will change its name to “First Trust Income Opportunities ETF” (the “Fund”). The Fund will continue to trade on The Nasdaq Stock Market LLC under the ticker symbol “FCEF” and its CUSIP will not change.

This corresponds with the removal of the Fund’s non-fundamental investment policy to invest at least 80% of its net assets (including investment borrowings) in a portfolio of closed-end investment companies that are listed and traded in the United States on registered exchanges. The Fund still intends to invest in closed-end funds; however, the Fund may also invest in exchange-traded funds to pursue its investment objective. The Fund’s investment objective to seek to provide current income with a secondary emphasis on total return and other fundamental policies have not changed.

FTA is a federally registered investment advisor and serves as the Fund’s investment advisor. FTA and its affiliate First Trust Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately $210 billion as of February 28, 2022 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. FTA is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. FTA and FTP are based in Wheaton, Illinois.

You should consider the Fund’s investment objective, risks, charges and expenses carefully before investing. You can download a prospectus or contact FTA to request a prospectus, which contains other information about the Fund. Read it carefully before you invest. The risks of investing in the Fund are spelled out in its prospectus, shareholder reports and other regulatory filings.

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 and the Internal Revenue Code. First Trust has no knowledge of and has not been provided any information regarding any investor. Financial advisors must determine whether particular investments are appropriate for their clients. First Trust believes the financial advisor is a fiduciary, is capable of evaluating investment risks independently and is responsible for exercising independent judgment with respect to its retirement plan clients.

This press release does not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

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