SCHEDULE: BNY Mellon Discloses 17.2% Stake in First Trust ETF

Bank of New York Mellon Corporation and its subsidiaries report a 17.2% beneficial ownership in First Trust Horizon Managed Volatility Small/Mid ETF.

Summary

• Bank of New York Mellon Corp, along with its subsidiaries BNY Mellon IHC, LLC, MBC Investments Corp, and BNY Mellon Advisors, Inc., collectively hold a significant stake in First Trust Horizon Managed Volatility Small/Mid ETF.
• The aggregate amount beneficially owned by Bank of New York Mellon Corp is 129,290.00 shares, representing 17.2% of the class.
• BNY Mellon IHC, LLC, MBC Investments Corp, and BNY Mellon Advisors, Inc. each report beneficial ownership of 129,288.00 shares, also representing 17.2% of the class.
• The reporting entities primarily hold sole voting power for a majority of the shares (e.g., 126,761.00 for Bank of New York Mellon Corp) and shared dispositive power for 129,288.00 shares.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 6

Explanation: The filing is largely neutral as it is a routine disclosure of beneficial ownership. However, the significant stake held by a prominent financial institution like BNY Mellon can be seen as a slightly positive signal of confidence in the issuer's investment product.

Positives

• The significant 17.2% stake held by a major financial institution like Bank of New York Mellon Corporation and its affiliates can be interpreted as a vote of confidence in the First Trust Horizon Managed Volatility Small/Mid ETF.
• The filing explicitly states that the securities are held in the ordinary course of business and not for influencing control, indicating a passive, long-term investment perspective.

Future Outlook

NA

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."

Industry Context

This filing reflects a routine disclosure by a large institutional investor, Bank of New York Mellon, regarding its passive ownership stake in an Exchange-Traded Fund (ETF). Such disclosures are common for major asset managers and financial institutions that hold significant positions across various investment vehicles as part of their fiduciary duties or investment strategies. It does not indicate a specific trend for the ETF industry but rather a compliance requirement for substantial holders.

Stakeholder Impact

• Shareholders: The disclosure of a large institutional holder may provide a sense of stability and institutional confidence in the ETF.

Key Dates

Keywords

First Trust Horizon Managed Volatility Small/Mid ETF, Bank of New York Mellon, BNY Mellon, Schedule 13G, Beneficial Ownership, ETF, Investment Adviser, Holding Company, Passive Investment