First Trust Rolls Out Long/Short Junk Bond ETF
Posted on March 05, 2013 at 13:13 PM EST
First Trust Advisors has added a new menu item for investors starving for dividend income in an era of unpalatable interest rates. The Wheaton, Ill.-based firm rolled out last week First Trust High Yield Long/Short ETF (HYLS), an actively managed ETF that seeks to generate income from investing in high-yield corporate bonds, aka junk bonds, while selling short U.S. Treasury and corporate bonds in hopes of profiting from falling bond prices. This