First Trust High Income Long/Short Fund is a diversified, closed-end management investment company based in the United States. The fund's objective is to provide a high current income to its investors. Its secondary objective is capital appreciation. It seeks to achieve its objectives by investing in a diversified portfolio in the United States. The fund holds an interest in various sectors, such as basic industry, healthcare, capital goods, telecommunications, automotive, banking, media, energy, leisure, insurance, technology and electronics, transportation, financial services and others.