First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Shares Pass 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 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.76 and traded as low as $9.62. First Trust Senior Floating Rate Income Fund II shares last traded at $9.6410, with a volume of 84,077 shares.

First Trust Senior Floating Rate Income Fund II Price Performance

The stock’s fifty day moving average is $9.63 and its two-hundred day moving average is $9.76.

First Trust Senior Floating Rate Income Fund II Cuts Dividend

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

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

Several large investors have recently made changes to their positions in the company. Invesco Ltd. raised its holdings in shares of 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 buying an additional 18,952 shares during the last quarter. Bank of America Corp DE grew its holdings in First Trust Senior Floating Rate Income Fund II by 2.0% in the 2nd quarter. Bank of America Corp DE now owns 643,395 shares of the investment management company’s stock worth $6,537,000 after buying an additional 12,835 shares in the last quarter. Sit Investment Associates Inc. grew its holdings in First Trust Senior Floating Rate Income Fund II by 340.6% in the 4th 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 in the last quarter. Ameriprise Financial Inc. increased its position in First Trust Senior Floating Rate Income Fund II by 43.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 268,985 shares of the investment management company’s stock valued at $2,692,000 after acquiring an additional 80,984 shares during the period. Finally, UBS Group AG increased its position in First Trust Senior Floating Rate Income Fund II by 20.5% in the 4th quarter. UBS Group AG now owns 252,376 shares of the investment management company’s stock valued at $2,541,000 after acquiring an additional 42,895 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.