# First Trust Specialty Finance and Financial Opportunities Fund (FGB): Closed-End Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/fgb for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: First Trust · Asset class: Equity - Strategy: Actively Managed · Inception: 2007-05-25 The First Trust Specialty Finance and Financial Opportunities Fund (FGB) functions as a closed-end equity mutual fund. It was established and is primarily overseen by First Trust Advisors L.P., with additional management responsibilities shared by Confluence Investment Management LLC. The fund's investment approach concentrates on public equity markets within the United States, specifically seeking out companies operating in the specialty finance and broader financial sectors. Its portfolio predominantly consists of value stocks, supplemented by investments in Business Development Companies... ## Key Facts | Metric | Value | |---|---| | Price | $4.15 | | Expense Ratio | — | | Market Value | $59.6M | | NAV | Not on file (no daily NAV for closed-end funds) | | Holdings Count | — | | Distribution Yield (TTM) | 47.95% | | Annual Distribution (TTM) | $1.99 /share | | Distribution Frequency | Monthly | | 52-Week Range | $3.39 – $4.64 | | Beta | 1.14 | ## Latest Distribution - Amount: $0.1400 /share - Ex-date: 2026-10-21 - Pay date: 2026-10-30 ## Frequently Asked Questions ### What does FGB invest in? The First Trust Specialty Finance and Financial Opportunities Fund (FGB) functions as a closed-end equity mutual fund. It was established and is primarily overseen by First Trust Advisors L.P., with additional management responsibilities shared by Confluence Investment Management LLC. The fund's investment approach concentrates on public equity markets within the United States, specifically seeking out companies operating in the specialty finance and broader financial sectors. Its portfolio predominantly consists of value stocks, supplemented by investments in Business Development Companies (BDCs), Real Estate Investment Trusts (REITs), and various mortgage-related securities. All investment decisions are guided by a thorough process of fundamental analysis. To assess its performance, the fund utilizes a composite benchmark consisting of 70% Wells Fargo BDC Index, 20% FTSE NAREIT Mortgage REIT Index, and 10% S&P SmallCap Financials Index. Formed on March 20, 2007, and domiciled in the U.S., the fund was formerly identified as the First Trust/Gallatin Specialty Finance and Financial Opportunities Fund. ### What is the expense ratio of FGB? An expense ratio for First Trust Specialty Finance and Financial Opportunities Fund (FGB) is not available from our data sources. Neither our market-data feed nor the SEC's structured prospectus and annual-report datasets report one for this share class. The fund's prospectus on the issuer's site carries the authoritative fee. ### How big is FGB? First Trust Specialty Finance and Financial Opportunities Fund (FGB) has a market value of $59.6M: its share price times its shares outstanding. A closed-end fund trades above or below its net asset value, so its net assets differ from this figure. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is FGB actively managed or an index fund? FGB is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds in exchange for the discretion to over- or under-weight positions. ### When was FGB launched? First Trust Specialty Finance and Financial Opportunities Fund (FGB) launched in May 2007 and is managed by First Trust. ### How has FGB performed? FGB's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does FGB pay a dividend? First Trust Specialty Finance and Financial Opportunities Fund (FGB) currently distributes little or no income. Trailing-twelve-month yield is 47.95%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does FGB pay dividends? First Trust Specialty Finance and Financial Opportunities Fund pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is FGB's dividend yield? FGB's trailing-twelve-month yield is 47.95%, calculated from the sum of dividends over the past year divided by the current price. ### When is FGB's next ex-dividend date? The most recently announced ex-dividend date for FGB was 2026-10-21. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### Why is FGB's expense ratio not shown? Neither our market-data feed nor the SEC's structured filing datasets (prospectus fee tables and Form N-CEN annual reports, which we re-check twice a month) report an expense ratio for First Trust Specialty Finance and Financial Opportunities Fund (FGB). That usually means the fund family doesn't register this share class's ticker in the SEC's machine-readable data, or the vehicle reports fees outside the standard fund forms. Rather than estimate, we leave it blank; the prospectus on the issuer's site carries the authoritative number. ### How does FGB charge its expense ratio? The expense ratio is deducted in tiny daily slices from FGB's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/fgb - Distribution history: https://www.dividenddata.com/funds/fgb/dividend - Holdings & diversification: https://www.dividenddata.com/funds/fgb/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/fgb/expenses - Peer comparison: https://www.dividenddata.com/funds/fgb/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.