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

First Trust Senior Floating Rate Income Fund II (NYSE:FCT)’s stock price passed 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 changing hands.

First Trust Senior Floating Rate Income Fund II Trading Up 0.3%

The firm has a 50-day moving average of $9.62 and a 200 day moving average of $9.75.

First Trust Senior Floating Rate Income Fund II Cuts Dividend

The business 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. The ex-dividend date was Wednesday, July 1st. This represents a c) annualized dividend and a yield of 10.1%.

Institutional Trading of First Trust Senior Floating Rate Income Fund II

Large investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. raised its holdings in shares of First Trust Senior Floating Rate Income Fund II by 2.6% during the second quarter. Geneos Wealth Management Inc. now owns 40,891 shares of the investment management company’s stock valued at $415,000 after purchasing an additional 1,024 shares during the last quarter. Genesis Financial Group LLC grew its position in First Trust Senior Floating Rate Income Fund II by 3.6% in the 1st quarter. Genesis Financial Group LLC now owns 43,114 shares of the investment management company’s stock worth $416,000 after purchasing an additional 1,507 shares during the period. CoreCap Advisors LLC raised its stake in First Trust Senior Floating Rate Income Fund II by 97.6% during the 2nd quarter. CoreCap Advisors LLC now owns 3,441 shares of the investment management company’s stock valued at $33,000 after buying an additional 1,700 shares during the last quarter. Cetera Investment Advisers raised its stake in First Trust Senior Floating Rate Income Fund II by 3.6% during the 1st quarter. Cetera Investment Advisers now owns 65,666 shares of the investment management company’s stock valued at $633,000 after buying an additional 2,288 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of First Trust Senior Floating Rate Income Fund II by 12.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 31,396 shares of the investment management company’s stock valued at $314,000 after buying an additional 3,373 shares during the period.

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.