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First Trust Specialty Fnc & Fncl Oppor (First Trust Specialty Fnc & Fncl Oppor) Effective Interest Rate on Debt % : 7.33% (As of Nov. 2023)


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What is First Trust Specialty Fnc & Fncl Oppor Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. First Trust Specialty Fnc & Fncl Oppor's annualized positive value of Interest Expense for the quarter that ended in Nov. 2023 was $0.63 Mil. First Trust Specialty Fnc & Fncl Oppor's average total debt for the quarter that ended in Nov. 2023 was $8.60 Mil. Therefore, First Trust Specialty Fnc & Fncl Oppor's annualized Effective Interest Rate on Debt % for the quarter that ended in Nov. 2023 was 7.33%.


First Trust Specialty Fnc & Fncl Oppor Effective Interest Rate on Debt % Historical Data

The historical data trend for First Trust Specialty Fnc & Fncl Oppor's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

First Trust Specialty Fnc & Fncl Oppor Effective Interest Rate on Debt % Chart

First Trust Specialty Fnc & Fncl Oppor Annual Data
Trend Nov17 Nov18 Nov19 Nov20 Nov21 Nov22 Nov23
Effective Interest Rate on Debt %
Get a 7-Day Free Trial 3.22 1.92 2.24 3.34 7.05

First Trust Specialty Fnc & Fncl Oppor Semi-Annual Data
Nov17 May18 Nov18 May19 Nov19 May20 Nov20 May21 Nov21 May22 Nov22 May23 Nov23
Effective Interest Rate on Debt % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.14 2.28 4.37 6.77 7.33

Competitive Comparison of First Trust Specialty Fnc & Fncl Oppor's Effective Interest Rate on Debt %

For the Asset Management subindustry, First Trust Specialty Fnc & Fncl Oppor's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


First Trust Specialty Fnc & Fncl Oppor's Effective Interest Rate on Debt % Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, First Trust Specialty Fnc & Fncl Oppor's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where First Trust Specialty Fnc & Fncl Oppor's Effective Interest Rate on Debt % falls into.



First Trust Specialty Fnc & Fncl Oppor Effective Interest Rate on Debt % Calculation

First Trust Specialty Fnc & Fncl Oppor's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Nov. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: Nov. 2022 )+Total Debt  (A: Nov. 2023 ))/ count )
=-1  *  -0.606/( (8.6+8.6)/ 2 )
=-1  *  -0.606/8.6
=7.05 %

where

First Trust Specialty Fnc & Fncl Oppor's annualized Effective Interest Rate on Debt % for the quarter that ended in Nov. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: May. 2023 )+Total Debt  (Q: Nov. 2023 ))/ count )
=-1  *  -0.63/( (8.6+8.6)/ 2 )
=-1  *  -0.63/8.6
=7.33 %

where

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is two times the semi-annual (Nov. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.


First Trust Specialty Fnc & Fncl Oppor  (NYSE:FGB) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.


First Trust Specialty Fnc & Fncl Oppor Effective Interest Rate on Debt % Related Terms

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First Trust Specialty Fnc & Fncl Oppor (First Trust Specialty Fnc & Fncl Oppor) Business Description

Traded in Other Exchanges
N/A
Address
120 East Liberty Drive, Suite 400, Wheaton, IL, USA, 60187
First Trust Specialty Fnc & Fncl Oppor is a United States-based closed-end management investment company. The Fund's primary investment objective is to seek a high level of current income. It seeks a positive total return as a secondary objective. The Fund seeks to achieve its investment objectives by investing at least 80% of its Managed Assets in a portfolio of securities of specialty finance and other financial companies.
Executives
Bronwyn Wright director FIRST TRUST ADVISORS L.P., 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187
Thomas R Kadlec director C/O FIRST TRUST ADVISORS LP, 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187
M Keefe Denise director C/O FIRST TRUST ADVISORS L.P., 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187
Kelly Catherine Dehler other: Officer - Investment Advisor C/O FIRST TRUST ADVISORS L.P., 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187
Scott Michael Friske other: Officer - Investment Advisor FIRST TRUST ADVISORS L.P., 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187
Steven Patrick Farmer other: Officer-Invest. Sub-Advisor 50 S. LASALLE STREET, CHICAGO IL 60603
Anne Kochevar other: Officer - Invest. Sub-Advisor
Shane Shannon officer: Assistant Secretary FIRST TRUST ADVISORS L.P., 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187
Donald Swade officer: Assistant Treasurer C/O FIRST TRUST ADVISORS L.P., 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187
Katherine L Urevig officer: Assistant Treasurer C/O FIRST TRUST ADVISORS L.P., 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187
Rosanne Gatta officer: Assistant Secretary FIRST TRUST ADVISORS L.P., 120 EAST LIBERTY STREET, SUITE 400, WHEATON IL 60187
Erin E Klassman officer: Assistant Secretary FIRST TRUST ADVISORS L.P., 120 EAST LIBERTY DRIVE, WHEATON IL 60187
Joseph J Hanzlik other: Officer-Investment Sub-Adviser CONFLUENCE INVESTMENT MANAGEMENT LLC, 349 MARSHALL AVENUE, SUITE 302, ST. LOUIS MO 63119
Patricia A Dahl other: Officer-Investment Sub-Adviser CONFLUENCE INVESTMENT MANAGEMENT LLC, 349 MARSHALL AVENUE, SUITE 302, ST. LOUIS MO 63119
Confluence Investment Management Llc other: Investment Sub-Adviser 20 ALLEN AVENUE, SUITE 300, ST. LOUIS MO 63119

First Trust Specialty Fnc & Fncl Oppor (First Trust Specialty Fnc & Fncl Oppor) Headlines

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