First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Stock 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 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 0.1%

The company 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 Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.097 per share. This represents a c) dividend on an annualized basis and a dividend 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 institutional investors and hedge funds have recently made changes to their positions in the stock. Genesis Financial Group LLC raised its position in shares of First Trust Senior Floating Rate Income Fund II by 3.6% during 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. Cetera Investment Advisers boosted 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 purchasing an additional 2,288 shares in the last quarter. International Assets Investment Management LLC boosted its stake in First Trust Senior Floating Rate Income Fund II by 20.7% during the 1st quarter. International Assets Investment Management LLC now owns 53,039 shares of the investment management company’s stock valued at $504,000 after purchasing an additional 9,100 shares in the last quarter. Sit Investment Associates Inc. boosted its stake in First Trust Senior Floating Rate Income Fund II by 340.6% during the 4th quarter. Sit Investment Associates Inc. now owns 349,329 shares of the investment management company’s stock valued at $3,518,000 after purchasing an additional 270,048 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of First Trust Senior Floating Rate Income Fund II by 3.0% during the 4th 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 in the last quarter.

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.