First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

First Trust Senior Floating Rate Income Fund II (NYSE:FCT)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.79 and traded as low as $9.57. First Trust Senior Floating Rate Income Fund II shares last traded at $9.5950, with a volume of 79,286 shares changing hands.

First Trust Senior Floating Rate Income Fund II Price Performance

The company’s 50-day moving average price is $9.66 and its two-hundred day moving average price is $9.79.

First Trust Senior Floating Rate Income Fund II Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a $0.0813 dividend. The ex-dividend date is Wednesday, July 1st. This represents a c) dividend on an annualized basis and a yield of 10.2%.

Institutional Investors Weigh In On First Trust Senior Floating Rate Income Fund II

Hedge funds have recently bought and sold shares of the stock. CoreCap Advisors LLC boosted its holdings in shares of First Trust Senior Floating Rate Income Fund II by 97.6% during the second quarter. CoreCap Advisors LLC now owns 3,441 shares of the investment management company’s stock worth $33,000 after acquiring an additional 1,700 shares during the period. Global Retirement Partners LLC increased its stake in shares of 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 purchasing an additional 6,424 shares during the period. XTX Topco Ltd acquired a new stake in First Trust Senior Floating Rate Income Fund II during the 4th quarter worth approximately $107,000. Jane Street Group LLC acquired a new stake in First Trust Senior Floating Rate Income Fund II during the 2nd quarter worth approximately $144,000. Finally, Seven Mile Advisory bought a new stake in First Trust Senior Floating Rate Income Fund II in the 3rd quarter valued at $176,000.

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.