First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $9.74 and traded as high as $9.82. First Trust Senior Floating Rate Income Fund II shares last traded at $9.7950, with a volume of 38,999 shares traded.

First Trust Senior Floating Rate Income Fund II Trading Up 0.1%

The company’s fifty day moving average price is $9.74 and its 200 day moving average price is $9.79.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Penserra Capital Management LLC increased its stake in 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 acquiring an additional 344,758 shares during the last quarter. CX Institutional bought a new position in First Trust Senior Floating Rate Income Fund II in the third quarter valued at approximately $604,000. Advisors Asset Management Inc. increased its stake in First Trust Senior Floating Rate Income Fund II by 8.4% in the third quarter. Advisors Asset Management Inc. now owns 719,607 shares of the investment management company’s stock valued at $7,196,000 after acquiring an additional 55,646 shares during the last quarter. RFG Advisory LLC increased its stake in First Trust Senior Floating Rate Income Fund II by 192.3% in the third quarter. RFG Advisory LLC now owns 98,558 shares of the investment management company’s stock valued at $986,000 after acquiring an additional 64,841 shares during the last quarter. Finally, Verity Asset Management Inc. increased its stake in First Trust Senior Floating Rate Income Fund II by 166.0% in the fourth quarter. Verity Asset Management Inc. now owns 67,772 shares of the investment management company’s stock valued at $682,000 after acquiring an additional 42,298 shares during the last quarter.

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.