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

First Trust Senior Floating Rate Income Fund II (NYSE:FCT)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.79 and traded as low as $9.76. First Trust Senior Floating Rate Income Fund II shares last traded at $9.7850, with a volume of 28,505 shares changing hands.

First Trust Senior Floating Rate Income Fund II Stock Down 0.1%

The firm’s 50-day simple moving average is $9.70 and its 200-day simple moving average is $9.79.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be issued a $0.097 dividend. The ex-dividend date of this dividend is Friday, May 1st. This represents a c) annualized dividend and a yield of 11.9%.

Institutional Trading of First Trust Senior Floating Rate Income Fund II

Institutional investors and hedge funds have recently modified their holdings of the company. Penserra Capital Management LLC raised its stake in shares of First Trust Senior Floating Rate Income Fund II by 93.2% in the third quarter. Penserra Capital Management LLC now owns 714,654 shares of the investment management company’s stock valued at $7,146,000 after purchasing an additional 344,758 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 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. Focus Partners Wealth bought a new stake in First Trust Senior Floating Rate Income Fund II in the 4th quarter valued at $2,436,000. Invesco Ltd. raised its stake in shares of First Trust Senior Floating Rate Income Fund II by 36.6% in the 2nd quarter. Invesco Ltd. now owns 512,105 shares of the investment management company’s stock valued at $5,203,000 after buying an additional 137,308 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of First Trust Senior Floating Rate Income Fund II in the 4th quarter valued at $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.