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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