First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Shares Pass Below 200-Day Moving Average – Time to Sell?

Shares of First Trust Senior Floating Rate Income Fund II (NYSE:FCT) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.83 and traded as low as $9.50. First Trust Senior Floating Rate Income Fund II shares last traded at $9.5150, with a volume of 85,573 shares traded.

First Trust Senior Floating Rate Income Fund II Price Performance

The stock has a 50-day simple moving average of $9.87 and a 200 day simple moving average of $9.83.

First Trust Senior Floating Rate Income Fund II Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be paid a dividend of $0.097 per share. This represents a c) annualized dividend and a dividend yield of 12.2%. The ex-dividend date of this dividend is Wednesday, April 1st.

Institutional Trading of First Trust Senior Floating Rate Income Fund II

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sit Investment Associates Inc. raised its holdings in First Trust Senior Floating Rate Income Fund II by 340.6% during the 4th quarter. Sit Investment Associates Inc. now owns 349,329 shares of the investment management company’s stock worth $3,518,000 after purchasing an additional 270,048 shares during the last quarter. Invesco Ltd. boosted its stake in shares of First Trust Senior Floating Rate Income Fund II by 3.0% in the 4th quarter. Invesco Ltd. now owns 653,730 shares of the investment management company’s stock valued at $6,583,000 after purchasing an additional 18,952 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of First Trust Senior Floating Rate Income Fund II during the 4th quarter worth approximately $107,000. Readystate Asset Management LP acquired a new stake in shares of First Trust Senior Floating Rate Income Fund II during the 4th quarter worth approximately $371,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of First Trust Senior Floating Rate Income Fund II during the fourth quarter worth approximately $1,124,000.

About First Trust Senior Floating Rate Income Fund II

First Trust Senior Floating Rate Income Fund II (NYSE: FCT) is a diversified, closed-end management investment company that seeks to provide current income with preservation of capital. Listed on the New York Stock Exchange, the fund pursues its objective by investing primarily in senior floating rate loans and other floating rate debt instruments of U.S. and non-U.S. companies. As a closed-end vehicle, FCT issues a fixed number of common shares and may utilize leverage to enhance returns for shareholders.

Under normal market conditions, FCT allocates at least 80% of its managed assets to senior floating rate loans, which are typically secured obligations of corporate borrowers.