WHEATON, Ill.–(BUSINESS WIRE)–First Trust Advisors L.P. (“FTA”) announced today approval of the liquidation of the First Trust Horizon Managed Volatility Small/Mid ETF (Nasdaq: HSMV), a series of First Trust Exchange-Traded Fund III (the “Fund”). Based upon the recommendation of FTA, the investment advisor of the Fund, the Board of Trustees of First Trust Exchange-Traded Fund III determined that it was in the best interests of the Fund to liquidate the Fund. Accordingly, the Board of Trustees