SCHEDULE: BNY Mellon Entities Report Stake in First Trust ETF

Several Bank of New York Mellon subsidiaries have reported a significant aggregate beneficial ownership of 22.7% in the First Trust Horizon Managed Volatility Domestic ETF.

Summary

• This filing is an amendment to a Schedule 13G, indicating a change in beneficial ownership reporting for the First Trust Horizon Managed Volatility Domestic ETF.
• The reporting persons are various subsidiaries of The Bank of New York Mellon Corporation, including BNY Mellon Corp, BNY Mellon IHC, LLC, MBC Investments Corp, and BNY Mellon Advisors, Inc.
• Collectively, these entities hold an aggregate of 419,796 shares, representing 22.7% of the class of securities.
• The filing details the sole voting power, shared voting power, sole dispositive power, and shared dispositive power for each reporting entity.
• The Bank of New York Mellon Corporation and its subsidiaries hold these securities in various fiduciary capacities, and no single entity holds more than 5% of the class.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral; it's a routine disclosure of beneficial ownership by a large financial institution and does not inherently signal positive or negative performance for the ETF itself.

Positives

• The Bank of New York Mellon Corporation and its subsidiaries maintain a substantial stake in the First Trust Horizon Managed Volatility Domestic ETF, indicating confidence or strategic interest.
• The filing is an amendment, suggesting ongoing management and oversight of the investment portfolio.
• The reporting is conducted in accordance with SEC regulations, ensuring transparency for investors.

Risks

• While not explicitly stated as a risk in this filing, a significant ownership stake by a single financial institution could potentially influence the ETF's management or investment strategy, though this is mitigated by fiduciary duties.
• Changes in beneficial ownership, even if aggregated under a parent company, can sometimes signal shifts in market sentiment or investment strategy that could impact the ETF's performance.

Future Outlook

This filing is an amendment to a Schedule 13G and does not contain forward-looking statements or specific guidance regarding future performance of the ETF. It primarily reports on current beneficial ownership.

Industry Context

StockSavvy.ai notes that large financial institutions like BNY Mellon often hold significant stakes in ETFs, either for their own investment portfolios or on behalf of clients. This filing reflects a substantial, aggregated position within a specific ETF focused on managed volatility.

Stakeholder Impact

• Shareholders of the First Trust Horizon Managed Volatility Domestic ETF: The significant ownership by BNY Mellon entities may influence market liquidity and potentially the ETF's trading dynamics, though direct impact on investment strategy is limited by fiduciary duties.
• The Bank of New York Mellon Corporation: This filing confirms its role as a major holder and potentially a service provider for the ETF, reinforcing its position in the asset management industry.

Next Steps

• Continue to monitor future Schedule 13G filings for any further changes in beneficial ownership by The Bank of New York Mellon Corporation and its subsidiaries.

Key Dates

Keywords

First Trust Horizon Managed Volatility Domestic ETF, Schedule 13G, Bank of New York Mellon, BNY Mellon, ETF ownership, beneficial ownership, fiduciary capacity, investment management