In a recent transaction, James A. Bowen, an officer serving as an investment advisor at First Trust High Yield Opportunities 2027 Term Fund (NYSE:FTHY), purchased shares of the company's common stock, reflecting confidence in the fund's prospects. The acquisition consisted of 16,000 shares at a price of $14.2491, amounting to a total investment of approximately $228,000.
This purchase has bolstered Bowen's holdings in the fund to a total of 86,000 shares. The transaction, which took place on April 3, 2024, was disclosed through a filing with the Securities and Exchange Commission (SEC) on the following day.
First Trust High Yield Opportunities 2027 Term Fund is known for its focus on providing high yield opportunities to investors. The acquisition of shares by an insider such as Bowen is often viewed by investors as a positive signal about the fund's financial health and future performance.
Investors and market watchers closely monitor insider transactions as they can provide insights into how the management and key stakeholders perceive the company's value and growth potential. The recent purchase by Bowen is a significant investment and may suggest his optimistic outlook for the fund's performance.
The details of the transaction, including the number of shares purchased and the total value, are publicly available in the SEC filing. This information is frequently reviewed by analysts and investors to understand insider behaviors and potential impacts on the fund's stock performance.
First Trust High Yield Opportunities 2027 Term Fund, with its ticker symbol FTHY, is traded on the New York Stock Exchange and continues to be a point of interest for those looking for high-yield investment opportunities in the market.
InvestingPro Insights
The recent insider purchase by James A. Bowen of First Trust High Yield Opportunities 2027 Term Fund (NYSE:FTHY) underscores the potential value seen within the fund's strategy and offerings. In light of this development, key performance metrics from InvestingPro can provide a broader context for investors considering FTHY's current standing and future prospects.
As of the 95th day of 2024, FTHY boasts a robust Dividend Yield of 10.94%, which is particularly attractive for income-focused investors. This yield is a testament to the fund's commitment to delivering high returns to its shareholders. Additionally, the Ex-Date of Last Dividend was on April 1, 2024, making it a recent event that might have influenced the timing of Bowen's share purchase.
Despite some short-term fluctuations, with a 1-week price total return of -1.04%, the fund has shown resilience over the longer term. The 1-month and 3-month price total returns stand at 0.41% and 6.02% respectively, while the 6-month return is an impressive 16.22%. This suggests that the fund has been gaining momentum, a factor that could have contributed to Bowen's decision to increase his stake.
InvestingPro Tips highlight the importance of considering both short-term and long-term performance when evaluating a fund's health. For those interested in a deeper analysis, InvestingPro offers additional insights; there are 12 more InvestingPro Tips available for FTHY, which can be accessed with a Pro or Pro+ subscription. Use the coupon code PRONEWS24 to get an additional 10% off your yearly or biyearly subscription, and gain comprehensive insights into funds like FTHY that could enhance your investment decisions.
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