First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) Stock Price, Quote, News & History | Benzinga

Under normal market conditions, the Fund seeks to achieve its investment objective by investing at least 80 percent of its net assets (including investment borrowings) in small- and/or mid-capitalization common stocks listed and traded on U.S. national securities exchanges that Horizon Investments, LLC (Horizon or the Sub-Advisor) believes exhibit low future expected volatility. The Fund defines small- and mid-capitalization companies as those that, at the time of investment, have a market capitalization between the minimum and maximum market capitalization of a widely recognized index of small- or mid-capitalization companies, respectively, based upon the composition of the index at the time of investment. As of October 31, 2023, the Fund considers small- and mid-capitalization companies to be those with a market capitalization between dollar 100 million and dollar 20 billion. The exact size of the companies included will change with market conditions and the Fund will not automatically sell or cease to purchase a stock that it already owns due to changes in market conditions. The Fund may also invest in the equity securities of real estate investment trusts (REITs).