CX Institutional Invests $604,000 in First Trust Senior Floating Rate Income Fund II $FCT

CX Institutional acquired a new stake in First Trust Senior Floating Rate Income Fund II (NYSE:FCT) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 60,402 shares of the investment management company’s stock, valued at approximately $604,000.

Several other institutional investors have also added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its position in shares of First Trust Senior Floating Rate Income Fund II by 5.9% in the second quarter. Advisors Asset Management Inc. now owns 663,961 shares of the investment management company’s stock valued at $6,746,000 after purchasing an additional 37,176 shares during the period. Geneos Wealth Management Inc. grew its stake in First Trust Senior Floating Rate Income Fund II by 12.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 39,867 shares of the investment management company’s stock valued at $404,000 after buying an additional 4,390 shares in the last quarter. TFG Advisers LLC raised its holdings in First Trust Senior Floating Rate Income Fund II by 1.5% during the 2nd quarter. TFG Advisers LLC now owns 222,532 shares of the investment management company’s stock valued at $2,261,000 after acquiring an additional 3,298 shares during the period. Accredited Investor Services LLC purchased a new stake in shares of First Trust Senior Floating Rate Income Fund II during the second quarter worth $103,000. Finally, RFG Advisory LLC lifted its position in shares of First Trust Senior Floating Rate Income Fund II by 5.4% during the second quarter. RFG Advisory LLC now owns 33,717 shares of the investment management company’s stock worth $343,000 after acquiring an additional 1,731 shares in the last quarter.

First Trust Senior Floating Rate Income Fund II Stock Performance

Shares of NYSE FCT opened at $10.00 on Friday. First Trust Senior Floating Rate Income Fund II has a fifty-two week low of $8.61 and a fifty-two week high of $10.49. The stock has a fifty day moving average of $9.76 and a 200-day moving average of $9.92.

First Trust Senior Floating Rate Income Fund II Announces Dividend

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 given a dividend of $0.097 per share. The ex-dividend date is Friday, January 2nd. This represents a c) annualized dividend and a dividend yield of 11.6%.

About First Trust Senior Floating Rate Income Fund II

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.