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

Shares of First Trust Senior Floating Rate Income Fund II (NYSE:FCT) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.80 and traded as low as $9.55. First Trust Senior Floating Rate Income Fund II shares last traded at $9.5850, with a volume of 103,486 shares.

First Trust Senior Floating Rate Income Fund II Trading Up 0.2%

The business’s 50 day moving average is $9.69 and its 200 day moving average is $9.80.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.097 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a c) dividend on an annualized basis and a dividend yield of 12.1%.

Hedge Funds Weigh In On First Trust Senior Floating Rate Income Fund II

Large investors have recently made changes to their positions in the company. Global Retirement Partners LLC boosted its position in First Trust Senior Floating Rate Income Fund II by 181.9% in the 4th quarter. Global Retirement Partners LLC now owns 9,955 shares of the investment management company’s stock valued at $100,000 after buying an additional 6,424 shares during the period. Alteri Wealth LLC purchased a new stake in shares of First Trust Senior Floating Rate Income Fund II in the 3rd quarter worth approximately $104,000. XTX Topco Ltd purchased a new stake in shares of First Trust Senior Floating Rate Income Fund II in the 4th quarter worth approximately $107,000. Jane Street Group LLC purchased a new stake in shares of First Trust Senior Floating Rate Income Fund II in the 2nd quarter worth approximately $144,000. Finally, Seven Mile Advisory bought a new position in shares of First Trust Senior Floating Rate Income Fund II during the 3rd quarter worth approximately $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.