First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

Shares of First Trust Senior Floating Rate Income Fund II (NYSE:FCT) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.80 and traded as low as $9.65. First Trust Senior Floating Rate Income Fund II shares last traded at $9.68, with a volume of 106,220 shares trading hands.

First Trust Senior Floating Rate Income Fund II Stock Up 0.1%

The firm has a fifty day moving average price of $9.69 and a 200 day moving average price of $9.80.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.097 dividend. This represents a c) annualized dividend and a dividend yield of 12.0%. The ex-dividend date of this dividend is Monday, June 1st.

Institutional Trading of First Trust Senior Floating Rate Income Fund II

Institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. raised its holdings in shares of First Trust Senior Floating Rate Income Fund II by 8.4% in the third quarter. Advisors Asset Management Inc. now owns 719,607 shares of the investment management company’s stock worth $7,196,000 after acquiring an additional 55,646 shares during the last quarter. Penserra Capital Management LLC increased its stake in First Trust Senior Floating Rate Income Fund II by 93.2% in the third quarter. Penserra Capital Management LLC now owns 714,654 shares of the investment management company’s stock valued at $7,146,000 after purchasing an additional 344,758 shares during the last quarter. Invesco Ltd. grew its position in First Trust Senior Floating Rate Income Fund II by 3.0% during the fourth quarter. Invesco Ltd. now owns 653,730 shares of the investment management company’s stock valued at $6,583,000 after acquiring an additional 18,952 shares during the period. Bank of America Corp DE grew its position in First Trust Senior Floating Rate Income Fund II by 2.0% during the second quarter. Bank of America Corp DE now owns 643,395 shares of the investment management company’s stock valued at $6,537,000 after acquiring an additional 12,835 shares during the period. Finally, Sit Investment Associates Inc. grew its position in First Trust Senior Floating Rate Income Fund II by 340.6% during the fourth quarter. Sit Investment Associates Inc. now owns 349,329 shares of the investment management company’s stock valued at $3,518,000 after acquiring an additional 270,048 shares during the period.

First Trust Senior Floating Rate Income Fund II Company Profile

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.