First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Share Price Passes Above 50-Day Moving Average – Time to Sell?

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $9.74 and traded as high as $10.08. First Trust Senior Floating Rate Income Fund II shares last traded at $10.0220, with a volume of 236,761 shares traded.

First Trust Senior Floating Rate Income Fund II Trading Up 0.4%

The company has a fifty day moving average price of $9.74 and a two-hundred day moving average price of $9.92.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be issued a $0.097 dividend. This represents a c) annualized dividend and a dividend yield of 11.6%. The ex-dividend date is Friday, January 2nd.

Institutional Investors Weigh In On First Trust Senior Floating Rate Income Fund II

Institutional investors have recently added to or reduced their stakes in the stock. Verity Asset Management Inc. boosted its stake in First Trust Senior Floating Rate Income Fund II by 62.0% in the 3rd quarter. Verity Asset Management Inc. now owns 25,474 shares of the investment management company’s stock worth $255,000 after purchasing an additional 9,754 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of First Trust Senior Floating Rate Income Fund II by 43.1% during the third quarter. Ameriprise Financial Inc. now owns 268,985 shares of the investment management company’s stock worth $2,692,000 after buying an additional 80,984 shares in the last quarter. Raymond James Financial Inc. grew its holdings in shares of First Trust Senior Floating Rate Income Fund II by 25.8% during the third quarter. Raymond James Financial Inc. now owns 56,986 shares of the investment management company’s stock worth $570,000 after buying an additional 11,677 shares in the last quarter. Invesco Ltd. lifted its stake in First Trust Senior Floating Rate Income Fund II by 24.0% in the 3rd quarter. Invesco Ltd. now owns 634,778 shares of the investment management company’s stock valued at $6,348,000 after acquiring an additional 122,673 shares in the last quarter. Finally, Seven Mile Advisory acquired a new position in First Trust Senior Floating Rate Income Fund II during the 3rd quarter worth approximately $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.