UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
First Trust Value Line Dividend Fund
(Name of Issuer)
Common Stock, $.01 par value
(Title of Class of Securities)
| 33735A100 (CUSIP Number) |
December 18, 2006
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
¨ Rule 13d-1(b)
x Rule 13d-1(c)
¨ Rule 13d-1(d)
| * | The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. |
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
| CUSIP No. 33735A100 |
| 1. | Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). |
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| QVT Financial LP 11-3694008 |
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| 2. | Check the Appropriate Box if a Member of a Group (See Instructions) | |||
| (a) ¨ | ||||
| (b) x | ||||
| 3. | SEC Use Only | |||
| 4. | Citizenship or Place of Organization | |||
| Delaware | ||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
5. Sole Voting Power | |
| 0 | ||
| 6. Shared Voting Power | ||
| 0 | ||
| 7. Sole Dispositive Power | ||
| 0 | ||
| 8. Shared Dispositive Power | ||
| 0 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person | |||
| 0 | ||||
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) | ¨ | ||
| 11. | Percent of Class Represented by Amount in Row (9) | |||
| 0% | ||||
| 12. | Type of Reporting Person (See Instructions) | |||
| PN | ||||
Page 2 of 7 pages
| CUSIP No. 33735A100 |
| 1. | Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). |
|||
| QVT Financial GP LLC 11-3694007 |
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| 2. | Check the Appropriate Box if a Member of a Group (See Instructions) | |||
| (a) ¨ | ||||
| (b) x | ||||
| 3. | SEC Use Only | |||
| 4. | Citizenship or Place of Organization | |||
| Delaware | ||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
5. Sole Voting Power | |
| 0 | ||
| 6. Shared Voting Power | ||
| 0 | ||
| 7. Sole Dispositive Power | ||
| 0 | ||
| 8. Shared Dispositive Power | ||
| 0 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person | |||
| 0 | ||||
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) | ¨ | ||
| 11. | Percent of Class Represented by Amount in Row (9) | |||
| 0% | ||||
| 12. | Type of Reporting Person (See Instructions) | |||
| OO | ||||
Page 3 of 7 pages
| Item 1 | (a). |
Name of Issuer | ||||||||||
| First Trust Value Line Dividend Fund (the “Issuer”) | ||||||||||||
| Item 1 | (b). |
Address of Issuer’s Principal Executive Offices | ||||||||||
| The address of the Issuer’s principal executive offices is:
1001 Warrenville Road, Suite 300, Lisle, Illinois 60532, United States |
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| Item 2 | (a). |
Name of Person Filing | ||||||||||
| Item 2 | (b). |
Address of Principal Business Office or, if none, Residence | ||||||||||
| Item 2 | (c). |
Citizenship | ||||||||||
| QVT Financial LP 1177 Avenue of the Americas, 9th Floor New York, New York 10036 Delaware Limited Partnership
QVT Financial GP LLC 1177 Avenue of the Americas, 9th Floor New York, New York 10036 Delaware Limited Liability Company |
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| Item 2 | (d). |
Title of Class of Securities | ||||||||||
| Common stock, $.01 par value per share (the “Common Stock”). | ||||||||||||
| Item 2 | (e). |
CUSIP Number | ||||||||||
| The CUSIP number of the Common Stock is 33735A100. | ||||||||||||
| Item 3. | If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: | |||||||||||
| (a) | ¨ | Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). | ||||||||||
| (b) | ¨ | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). | ||||||||||
| (c) | ¨ | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). | ||||||||||
| (d) | ¨ | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). | ||||||||||
| (e) | ¨ | An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E); | ||||||||||
| (f) | ¨ | An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F); | ||||||||||
| (g) | ¨ | A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G); | ||||||||||
| (h) | ¨ | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); | ||||||||||
| (i) | ¨ | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); | ||||||||||
| (j) | ¨ | Group, in accordance with § 240.13d-1(b)(1)(ii)(J). | ||||||||||
Page 4 of 7 pages
| Item 4. | Ownership. | |||||||||
| (a) | Amount beneficially owned:
QVT Financial LP and QVT Financial GP LLC, as General Partner of QVT Financial, reported beneficial ownership of 10.04% of the class of equity securities in Amendment No. 1 to the Schedule 13G, filed on September 11, 2006. As of December 18, 2006, QVT Financial LP and QVT Financial GP LLC decreased their reported beneficial ownership by more than five percent of the class of equity securities, and currently own no shares of the Common Stock. |
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| (b) | Percent of class:
0 |
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| (c) | Number of shares as to which the person has: | |||||||||
| (i) | Sole power to vote or to direct the vote
0 |
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| (ii) | Shared power to vote or to direct the vote
0 |
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| (iii) | Sole power to dispose or to direct the disposition of
0 |
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| (iv) | Shared power to dispose or to direct the disposition of
0 |
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| Item 5. | Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following….. x. |
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| Item 6. | Ownership of More than Five Percent on Behalf of Another Person.
Not Applicable |
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| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company
Not Applicable | |||||||||
| Item 8. | Identification and Classification of Members of the Group
Not Applicable |
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| Item 9. | Notice of Dissolution of Group
Not Applicable |
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| Item 10. | Certification
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. |
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Page 5 of 7 pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: December 21, 2006
| QVT FINANCIAL LP | ||
| By QVT Financial GP LLC, its General Partner | ||
| By: | /s/ Dan Gold | |
| Name: | Dan Gold | |
| Title: | Managing Member | |
| By: | /s/ Lars Bader | |
| Name: | Lars Bader | |
| Title: | Managing Member | |
| QVT FINANCIAL GP LLC | ||
| By: | /s/ Dan Gold | |
| Name: | Dan Gold | |
| Title: | Managing Member | |
| By: | /s/ Lars Bader | |
| Name: | Lars Bader | |
| Title: | Managing Member | |
Page 6 of 7 pages
EXHIBIT A
JOINT FILING AGREEMENT
The undersigned hereby agree that the statement on Schedule 13G signed by each of the undersigned shall be filed on behalf of each of the undersigned pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.
Dated: December 21, 2006
| QVT FINANCIAL LP | ||
| By QVT Financial GP LLC, its General Partner | ||
| By: | /s/ Dan Gold | |
| Name: | Dan Gold | |
| Title: | Managing Member | |
| By: | /s/ Lars Bader | |
| Name: | Lars Bader | |
| Title: | Managing Member | |
| QVT FINANCIAL GP LLC | ||
| By: | /s/ Dan Gold | |
| Name: | Dan Gold | |
| Title: | Managing Member | |
| By: | /s/ Lars Bader | |
| Name: | Lars Bader | |
| Title: | Managing Member | |
Page 7 of 7 pages