Sit Investment Associates Inc. Boosts Position in First Trust Senior Floating Rate Income Fund II $FCT

Sit Investment Associates Inc. boosted its holdings in shares of First Trust Senior Floating Rate Income Fund II (NYSE:FCT) by 340.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 349,329 shares of the investment management company’s stock after purchasing an additional 270,048 shares during the period. Sit Investment Associates Inc.’s holdings in First Trust Senior Floating Rate Income Fund II were worth $3,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of FCT. Wolverine Asset Management LLC acquired a new stake in First Trust Senior Floating Rate Income Fund II in the 4th quarter valued at about $962,000. D.A. Davidson & CO. lifted its stake in shares of First Trust Senior Floating Rate Income Fund II by 3.2% in the 4th quarter. D.A. Davidson & CO. now owns 252,303 shares of the investment management company’s stock valued at $2,541,000 after purchasing an additional 7,714 shares during the last quarter. Verity Asset Management Inc. boosted its stake in First Trust Senior Floating Rate Income Fund II by 166.0% during the fourth quarter. Verity Asset Management Inc. now owns 67,772 shares of the investment management company’s stock worth $682,000 after buying an additional 42,298 shares during the period. Genesis Financial Group LLC purchased a new position in shares of First Trust Senior Floating Rate Income Fund II during the 4th quarter worth approximately $419,000. Finally, Alteri Wealth LLC purchased a new position in shares of First Trust Senior Floating Rate Income Fund II during the third quarter worth $104,000.

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

NYSE FCT opened at $9.61 on Friday. First Trust Senior Floating Rate Income Fund II has a 1-year low of $9.40 and a 1-year high of $10.29. The stock has a 50-day moving average of $9.70 and a two-hundred day moving average of $9.80.

First Trust Senior Floating Rate Income Fund II Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.0813 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a c) dividend on an annualized basis and a dividend yield of 10.2%.

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.