As of October 24, 2016, First Trust Dividend and Income Fund was acquired by First Trust Exchange-Traded Fund VI - First Trust High Income ETF. First Trust Dividend and Income Fund is a closed-ended balanced mutual fund launched and managed by First Trust Advisors L.P. The fund is co-managed by Chartwell Investment Partners. It invests in public equity and fixed income markets across the globe. The equity portion of the fund invests in stocks of companies operating across the diversified sectors. It primarily invests in dividend paying stocks of companies across all market capitalizations. The fund invests in common stocks, preferred securities, convertible securities, ADRs, including American Depositary Shares, EDRs, GDRs, and warrants, all of which will generally trade on a registered U.S. national securities exchange. It also invests in senior loans and debt securities that are rated below investment grade. The fund employs a combination of quantitative and fundamental analysis to create its portfolio. It benchmarks the performance of its portfolio against the S&P 500 Index, the Russell 1000 Value Index, and the DJ Select Dividend Index. The fund was formerly known as First Trust Active Dividend Income Fund. First Trust Dividend and Income Fund was formed on September 20, 2007 and is domiciled in the United States.