Toronto-based FT Portfolios Canada Co. is removing the covered call option writing component from the investment strategy and objectives of its First Trust AlphaDEX Canadian Dividend Plus exchange-traded fund (ETF) and First Trust AlphaDEX U.S. Dividend Plus ETF (CAD-Hedged).

The names of the ETFs are also being changed to First Trust AlphaDEX Canadian Dividend ETF and First Trust Alphas DEX U.S. Dividend ETF (CAD-Hedged).

The move was approved by unitholders on Friday and the changes are expected to be implemented immediately.

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