First Trust Strategic High Income Fund (the "Fund") (NYSE: FHI) today
decreased its regularly scheduled monthly common share distribution to
$0.06 per share from $0.09 per share. The distribution will be payable
on July 15, 2009 to shareholders of record as of July 6, 2009. The
ex-dividend date is expected to be July 1, 2009. The monthly
distribution and cash balance information for the Fund appears below.
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First Trust Strategic High Income
Fund (FHI):
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Distribution per share:
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$0.06
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Distribution Rate based on the June 19, 2009 NAV of $3.04:
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23.68%
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Distribution Rate based on the June 19, 2009 closing market price
of $4.24:
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16.98%
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Decrease from previous distribution of $0.09:
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-33.33%
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Cash Balance on June 19, 2009:
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$777,802 or 2.80% of Net Assets
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The decrease is primarily due to continued credit deterioration
and credit impairment of the underlying income producing portfolio
positions.
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The majority, and possibly all, of this distribution will consist
of return of capital. A portion of this distribution may come from
net investment income. The final determination of the source and
tax status of all distributions paid in 2009 will be made after
the end of 2009.
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The Fund is a diversified, closed-end management investment company that
seeks to provide a high level of current income. As a secondary
objective, the Fund seeks to provide capital growth. The Fund pursues
these investment objectives by investing at least 80% of its managed
assets in a diversified portfolio of high income producing securities
that the investment sub-advisor believes offer attractive yield and
capital appreciation potential.
First Trust Advisors L.P., the Fund’s investment advisor, along with its
affiliate First Trust Portfolios L.P., are privately-held companies
which provide a variety of investment services, including asset
management, financial advisory services, and municipal and corporate
investment banking, with collective assets under management or
supervision of over $19 billion as of May 31, 2009 through closed-end
funds, unit investment trusts, mutual funds, separate managed accounts
and exchange-traded funds.
Past performance is no assurance of future results. Investment return
and market value of an investment in the Fund will fluctuate. Shares,
when sold, may be worth more or less than their original cost.
Principal Risk Factors: Investment in this Fund involves investment and
market risk, management risk, value investing risk, below-investment
grade securities risk, fixed-income securities risk, mortgage-backed
securities risk, asset-backed securities risk, convertible securities
risk, municipal securities risk, non-U.S. securities risk, non-U.S.
government securities risk, equity securities risk, currency risk,
distressed securities risk, preferred stock risk, inflation/deflation
risk, market discount risk, leverage risk, derivatives risk, market
disruption risk, portfolio turnover risk, and illiquid/restricted
securities risk. The risks of investing in the Fund are spelled out in
the prospectus, shareholder report and other regulatory filings.
The Fund’s daily closing New York Stock Exchange price and net asset
value per share as well as other information can be found at www.ftportfolios.com
or by calling 1-800-988-5891.
First Trust Strategic High Income Fund
Press Inquiries:
Jane
Doyle, 630-765-8775
or
Analyst Inquiries:
Jeff Margolin,
630-915-6784
or
Broker Inquiries:
Jeff Margolin,
630-915-6784
