First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.80 and traded as low as $9.65. First Trust Senior Floating Rate Income Fund II shares last traded at $9.68, with a volume of 106,220 shares trading hands.

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

The stock’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 firm also recently announced a monthly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.097 per share. This represents a c) dividend on an annualized basis and a yield of 12.0%. The ex-dividend date is Monday, June 1st.

Institutional Trading of First Trust Senior Floating Rate Income Fund II

A number of large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. boosted its holdings in First Trust Senior Floating Rate Income Fund II by 8.4% during the third quarter. Advisors Asset Management Inc. now owns 719,607 shares of the investment management company’s stock worth $7,196,000 after buying an additional 55,646 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in First Trust Senior Floating Rate Income Fund II by 93.2% during the third quarter. Penserra Capital Management LLC now owns 714,654 shares of the investment management company’s stock worth $7,146,000 after buying an additional 344,758 shares in the last quarter. Invesco Ltd. boosted its holdings in 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 worth $6,583,000 after buying an additional 18,952 shares in the last quarter. Bank of America Corp DE boosted its holdings in First Trust Senior Floating Rate Income Fund II by 2.0% during the second 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. Finally, Sit Investment Associates Inc. boosted its holdings in First Trust Senior Floating Rate Income Fund II by 340.6% during the fourth 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.

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.