First Trust Portfolios Exits Neuberger Berman High Yield Fund Stake
Ticker: NHS-RW · Form: SC 13G/A · Filed: Jan 19, 2024 · CIK: 1487610
| Field | Detail |
|---|---|
| Company | Neuberger Berman High Yield Strategies Fund Inc. (NHS-RW) |
| Form Type | SC 13G/A |
| Filed Date | Jan 19, 2024 |
| Risk Level | medium |
| Sentiment | bearish |
Complexity: simple
Sentiment: bearish
Topics: institutional-ownership, divestment, fund-management, ownership-change
TL;DR
**First Trust Portfolios just dumped all its shares in Neuberger Berman High Yield Strategies Fund.**
AI Summary
First Trust Portfolios L.P. and its affiliates, First Trust Advisors L.P. and The Charger Corporation, filed an amended Schedule 13G/A on January 19, 2024, indicating a change in their beneficial ownership of Neuberger Berman High Yield Strategies Fund Inc. As of December 31, 2023, these entities reported having 0 sole voting power and 0 shared voting power, as well as 0 sole dispositive power and 0 shared dispositive power over the common stock (CUSIP 64128C106). This filing suggests that First Trust Portfolios L.P. no longer holds a significant beneficial ownership stake in Neuberger Berman High Yield Strategies Fund Inc., which could impact the stock's trading volume or institutional interest.
Why It Matters
This matters because a major institutional investor, First Trust Portfolios L.P., has reduced its stake in Neuberger Berman High Yield Strategies Fund Inc. to zero, potentially signaling a lack of confidence or a strategic shift away from the fund.
Risk Assessment
Risk Level: medium — The complete divestment by a significant institutional holder could indicate underlying issues or a change in market sentiment for Neuberger Berman High Yield Strategies Fund Inc.
Analyst Insight
Investors should investigate the reasons behind First Trust Portfolios L.P.'s complete divestment from Neuberger Berman High Yield Strategies Fund Inc. and consider if this signals a broader negative outlook for the fund or its underlying assets before making any investment decisions.
Key Numbers
- 0 — Sole Voting Power (First Trust Portfolios L.P. and affiliates now hold no sole voting power over the issuer's common stock as of December 31, 2023.)
- 0 — Shared Voting Power (First Trust Portfolios L.P. and affiliates now hold no shared voting power over the issuer's common stock as of December 31, 2023.)
- 0 — Sole Dispositive Power (First Trust Portfolios L.P. and affiliates now hold no sole dispositive power over the issuer's common stock as of December 31, 2023.)
- 0 — Shared Dispositive Power (First Trust Portfolios L.P. and affiliates now hold no shared dispositive power over the issuer's common stock as of December 31, 2023.)
Key Players & Entities
- First Trust Portfolios L.P. (company) — the reporting person filing the SC 13G/A
- Neuberger Berman High Yield Strategies Fund Inc. (company) — the issuer of the securities
- First Trust Advisors L.P. (company) — an affiliate of the reporting person
- The Charger Corporation (company) — an affiliate of the reporting person
- 0 (dollar_amount) — sole voting power
- 0 (dollar_amount) — shared voting power
- 0 (dollar_amount) — sole dispositive power
- 0 (dollar_amount) — shared dispositive power
- December 31, 2023 (date) — date of event requiring the filing
- January 19, 2024 (date) — filing date of the SC 13G/A
Forward-Looking Statements
- The stock price of Neuberger Berman High Yield Strategies Fund Inc. may experience downward pressure due to the complete divestment by First Trust Portfolios L.P. (Neuberger Berman High Yield Strategies Fund Inc.) — medium confidence, target: Q1 2024
- Other institutional investors might re-evaluate their positions in Neuberger Berman High Yield Strategies Fund Inc. following this significant divestment. (institutional investors) — medium confidence, target: Q2 2024
FAQ
What is the purpose of this SC 13G/A filing by First Trust Portfolios L.P.?
This SC 13G/A is an amendment (Amendment No. 6) to a previous Schedule 13G filing, indicating a change in beneficial ownership of Neuberger Berman High Yield Strategies Fund Inc. by First Trust Portfolios L.P. and its affiliates, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.
Who are the reporting persons identified in this filing?
The reporting persons are First Trust Portfolios L.P. (IRS Identification No. 36-3768815), First Trust Advisors L.P. (IRS Identification No. 36-3788904), and The Charger Corporation (IRS Identification No. 36-3772451), all organized in Illinois, U.S.A.
What is the CUSIP number for the class of securities involved in this filing?
The CUSIP number for the common stock of Neuberger Berman High Yield Strategies Fund Inc. is 64128C106.
As of what date did the event requiring this filing occur?
The event which required the filing of this statement occurred on December 31, 2023.
What is the reported beneficial ownership of First Trust Portfolios L.P. and its affiliates in Neuberger Berman High Yield Strategies Fund Inc. as per this filing?
As of December 31, 2023, the reporting persons (First Trust Portfolios L.P., First Trust Advisors L.P., and The Charger Corporation) reported 0 sole voting power, 0 shared voting power, 0 sole dispositive power, and 0 shared dispositive power over the common stock of Neuberger Berman High Yield Strategies Fund Inc.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 19, 2024 regarding Neuberger Berman High Yield Strategies Fund Inc. (NHS-RW).