First Trust Senior Floating Rate Income Fund II $FCT Shares Sold by 1607 Capital Partners LLC

1607 Capital Partners LLC cut its position in shares of First Trust Senior Floating Rate Income Fund II (NYSE:FCT) by 66.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 53,461 shares of the investment management company’s stock after selling 104,500 shares during the quarter. 1607 Capital Partners LLC’s holdings in First Trust Senior Floating Rate Income Fund II were worth $535,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of FCT. Alteri Wealth LLC acquired a new stake in shares of First Trust Senior Floating Rate Income Fund II in the third quarter valued at $104,000. Tactive Advisors LLC acquired a new position in First Trust Senior Floating Rate Income Fund II during the second quarter worth about $114,000. Jane Street Group LLC bought a new stake in First Trust Senior Floating Rate Income Fund II in the second quarter worth about $144,000. Seven Mile Advisory bought a new stake in First Trust Senior Floating Rate Income Fund II in the third quarter worth about $176,000. Finally, Ethos Financial Group LLC acquired a new stake in First Trust Senior Floating Rate Income Fund II in the 3rd quarter valued at about $211,000.

First Trust Senior Floating Rate Income Fund II Stock Performance

NYSE:FCT opened at $9.72 on Friday. The company has a 50-day moving average of $9.94 and a 200-day moving average of $9.86. First Trust Senior Floating Rate Income Fund II has a twelve month low of $8.61 and a twelve month high of $10.30.

First Trust Senior Floating Rate Income Fund II Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.097 per share. This represents a c) dividend on an annualized basis and a yield of 12.0%. The ex-dividend date of this dividend is Monday, March 2nd.

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.