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

Shares of First Trust Senior Floating Rate Income Fund II (NYSE:FCT) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.70 and traded as low as $9.62. First Trust Senior Floating Rate Income Fund II shares last traded at $9.6660, with a volume of 1,136,436 shares changing hands.

First Trust Senior Floating Rate Income Fund II Trading Down 0.0%

The company has a 50-day moving average price of $9.63 and a two-hundred day moving average price of $9.70.

First Trust Senior Floating Rate Income Fund II Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a dividend of $0.0813 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a c) annualized dividend and a yield of 10.1%.

Institutional Trading of First Trust Senior Floating Rate Income Fund II

A number of hedge funds and other institutional investors have recently bought and sold shares of FCT. CoreCap Advisors LLC boosted its holdings in First Trust Senior Floating Rate Income Fund II by 97.6% in the 2nd quarter. CoreCap Advisors LLC now owns 3,441 shares of the investment management company’s stock valued at $33,000 after purchasing an additional 1,700 shares during the period. Global Retirement Partners LLC increased its holdings in shares of First Trust Senior Floating Rate Income Fund II by 181.9% in the fourth quarter. Global Retirement Partners LLC now owns 9,955 shares of the investment management company’s stock worth $100,000 after purchasing an additional 6,424 shares during the period. XTX Topco Ltd purchased a new stake in shares of First Trust Senior Floating Rate Income Fund II in the fourth quarter worth $107,000. Jane Street Group LLC purchased a new stake in shares of First Trust Senior Floating Rate Income Fund II in the second quarter worth $144,000. Finally, Seven Mile Advisory purchased a new stake in shares of First Trust Senior Floating Rate Income Fund II in the third quarter worth $176,000.

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.