First Trust High Income Long/Short Fund (FSD): Saba Capital Significantly Increases Stake

Page 2 of 6 – SEC Filing

SCHEDULE 13G

CUSIP
No.

33738E109
1 Names of Reporting Persons
Saba Capital Management, L.P.
2 Check the appropriate box if a member of a Group (see
instructions)
(a) [   ]
(b) [   ]
3 Sec Use Only
4 Citizenship or Place of Organization
Delaware
5 Sole Voting Power
Number of -0-
Shares 6 Shared Voting Power
Beneficially
Owned by Each 1,829,904
Reporting Person 7 Sole Dispositive Power
With:
-0-
8 Shared Dispositive Power
1,829,904
9

Aggregate Amount Beneficially Owned by Each Reporting
Person

1,829,904

10

Check box if the aggregate amount in row (9) excludes
certain shares (See Instructions)

[   ]

11

Percent of class represented by amount in row
(9)

5.19%

12

Type of Reporting Person (See Instructions)

PN; IA

The percentages used herein are calculated based upon
35,272,607 shares of common stock outstanding as of 04/30/2016, as disclosed in
the company’s Certified Shareholder Report Form N-CSR filed 7/05/2016

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