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

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) passed 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 traded.

First Trust Senior Floating Rate Income Fund II Trading Down 0.8%

The company has a fifty day moving average price of $10.00 and a 200 day moving average price of $9.89.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 16th. Investors 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.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Penserra Capital Management LLC grew its position in shares of 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 acquiring an additional 344,758 shares during the last quarter. Sit Investment Associates Inc. grew its position in First Trust Senior Floating Rate Income Fund II by 340.6% in the 4th quarter. Sit Investment Associates Inc. now owns 349,329 shares of the investment management company’s stock worth $3,518,000 after purchasing an additional 270,048 shares during the last quarter. Focus Partners Wealth bought a new position in First Trust Senior Floating Rate Income Fund II in the 4th quarter worth about $2,436,000. Invesco Ltd. increased its stake in shares of First Trust Senior Floating Rate Income Fund II by 36.6% in the second quarter. Invesco Ltd. now owns 512,105 shares of the investment management company’s stock valued at $5,203,000 after purchasing an additional 137,308 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in shares of First Trust Senior Floating Rate Income Fund II during the fourth quarter valued at approximately $1,124,000.

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.