RFG Advisory LLC Sells 67,621 Shares of First Trust Senior Floating Rate Income Fund II $FCT

RFG Advisory LLC reduced its holdings in First Trust Senior Floating Rate Income Fund II (NYSE:FCT) by 74.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,196 shares of the investment management company’s stock after selling 67,621 shares during the quarter. RFG Advisory LLC’s holdings in First Trust Senior Floating Rate Income Fund II were worth $224,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sit Investment Associates Inc. lifted its holdings in shares of 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 worth $3,518,000 after buying an additional 270,048 shares during the last quarter. Wolverine Asset Management LLC bought a new position in First Trust Senior Floating Rate Income Fund II during the fourth quarter worth $962,000. Global Retirement Partners LLC increased its position in First Trust Senior Floating Rate Income Fund II by 181.9% during the fourth quarter. Global Retirement Partners LLC now owns 9,955 shares of the investment management company’s stock worth $100,000 after acquiring an additional 6,424 shares during the period. Invesco Ltd. boosted its holdings in 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 period. Finally, Balyasny Asset Management L.P. acquired a new stake in First Trust Senior Floating Rate Income Fund II in the 4th quarter worth $1,124,000.

First Trust Senior Floating Rate Income Fund II Stock Performance

NYSE:FCT opened at $9.61 on Thursday. The firm’s 50-day moving average is $9.68 and its 200-day moving average is $9.80. First Trust Senior Floating Rate Income Fund II has a 52-week low of $9.40 and a 52-week high of $10.29.

First Trust Senior Floating Rate Income Fund II Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a dividend of $0.0813 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a c) dividend on an annualized basis and a yield of 10.1%.

First Trust Senior Floating Rate Income Fund II 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.