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) 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 traded.

First Trust Senior Floating Rate Income Fund II Stock Performance

The firm’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 Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its stake in First Trust Senior Floating Rate Income Fund II by 8.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 719,607 shares of the investment management company’s stock valued at $7,196,000 after purchasing an additional 55,646 shares in the last quarter. Invesco Ltd. increased its stake in shares of First Trust Senior Floating Rate Income Fund II by 3.0% in the fourth quarter. Invesco Ltd. now owns 653,730 shares of the investment management company’s stock worth $6,583,000 after acquiring an additional 18,952 shares during the period. Bank of America Corp DE increased its stake in shares of First Trust Senior Floating Rate Income Fund II by 2.0% in 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 acquiring an additional 12,835 shares during the period. Sit Investment Associates Inc. increased its stake in shares of First Trust Senior Floating Rate Income Fund II by 340.6% in the fourth quarter. Sit Investment Associates Inc. now owns 349,329 shares of the investment management company’s stock worth $3,518,000 after acquiring an additional 270,048 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of First Trust Senior Floating Rate Income Fund II by 43.1% in the third quarter. Ameriprise Financial Inc. now owns 268,985 shares of the investment management company’s stock worth $2,692,000 after acquiring an additional 80,984 shares during the period.

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.