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EX-99.1 - PRESS RELEASE - FIRST TRUST HIGH INCOME LONG/SHORT FUNDpress_release.txt


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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


        Date of report (Date of earliest event reported) January 31, 2011


                    FIRST TRUST HIGH INCOME LONG/SHORT FUND
             (Exact Name of Registrant as Specified in its Charter)



       Massachusetts                    811-22442                  27-3072807
(State or Other Jurisdiction    (Commission File Number)        (IRS Employer
     of Incorporation)                                       Identification No.)


   120 East Liberty Drive, Suite 400
           Wheaton, Illinois                                        60187
(Address of Principal Executive Offices)                          (Zip Code)


      Registrant's telephone number, including area code   (630) 765-8000


       ___________________________________________________________________
         (Former Name or Former Address, if Changed Since Last Report.)



Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):


|_|   Written communications pursuant to Rule 425 under the Securities Act
      (17 CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))


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Item 7.01 Regulation FD Disclosure. First Trust High Income Long/Short Fund (the "Fund") is filing herewith a press release issued on January 31, 2011, as Exhibit 99.1. The press release was issued by First Trust Advisors, L.P. to report that on February 3, 2011, the Fund will host a conference call with MacKay Shields LLC ("MacKay"), the Fund's investment sub-advisor. The purpose of the call is to hear the Fund's portfolio management team provide an update for the market and the Fund. Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 Press release of First Trust Advisors, L.P. dated January 31, 2011. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: January 31, 2011 FIRST TRUST HIGH INCOME LONG/SHORT FUND By: /s/ W. Scott Jardine ---------------------------------- Name: W. Scott Jardine Title: Secretary EXHIBIT INDEX Exhibit Number Description 99.1 Press release of First Trust Advisors, L.P. dated January 31, 2011