First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Stock Passes Below Two Hundred Day Moving Average – Time to Sell?

Shares of First Trust Senior Floating Rate Income Fund II (NYSE:FCT) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.80 and traded as low as $9.57. First Trust Senior Floating Rate Income Fund II shares last traded at $9.60, with a volume of 128,727 shares changing hands.

First Trust Senior Floating Rate Income Fund II Price Performance

The business has a 50-day simple moving average of $9.69 and a 200-day simple moving average of $9.80.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.097 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a c) dividend on an annualized basis and a yield of 12.1%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC increased its holdings in shares of 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 acquiring an additional 6,424 shares during the last quarter. Alteri Wealth LLC purchased a new position in shares of First Trust Senior Floating Rate Income Fund II in the 3rd quarter valued at about $104,000. XTX Topco Ltd purchased a new position in shares of First Trust Senior Floating Rate Income Fund II in the 4th quarter valued at about $107,000. Jane Street Group LLC purchased a new position in shares of First Trust Senior Floating Rate Income Fund II in the 2nd quarter valued at about $144,000. Finally, Seven Mile Advisory purchased a new position in shares of First Trust Senior Floating Rate Income Fund II in the 3rd quarter valued at about $176,000.

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.