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

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 $9.89 and traded as low as $9.84. First Trust Senior Floating Rate Income Fund II shares last traded at $9.8570, with a volume of 70,077 shares trading hands.

First Trust Senior Floating Rate Income Fund II Price Performance

The stock has a 50-day simple moving average of $10.00 and a 200-day simple moving average of $9.89.

First Trust Senior Floating Rate Income Fund II Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.097 per share. This represents a c) dividend on an annualized basis and a yield of 11.8%. The ex-dividend date is Monday, March 2nd.

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

A number of institutional investors have recently modified their holdings of the stock. Penserra Capital Management LLC increased its holdings 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 buying an additional 344,758 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in First Trust Senior Floating Rate Income Fund II by 5.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 663,961 shares of the investment management company’s stock worth $6,746,000 after buying an additional 37,176 shares during the last quarter. CX Institutional acquired a new position in shares of First Trust Senior Floating Rate Income Fund II in the 3rd quarter worth approximately $604,000. RFG Advisory LLC increased its holdings in shares of First Trust Senior Floating Rate Income Fund II by 192.3% in the 3rd quarter. RFG Advisory LLC now owns 98,558 shares of the investment management company’s stock valued at $986,000 after acquiring an additional 64,841 shares during the last quarter. Finally, World Investment Advisors acquired a new stake in shares of First Trust Senior Floating Rate Income Fund II during the 3rd quarter valued at approximately $353,000.

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.