First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Stock Crosses Below 200 Day Moving Average – Time to Sell?

Shares of First Trust Senior Floating Rate Income Fund II (NYSE:FCT) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.89 and traded as low as $9.84. First Trust Senior Floating Rate Income Fund II shares last traded at $9.8570, with a volume of 70,077 shares.

First Trust Senior Floating Rate Income Fund II Price Performance

The stock’s 50-day moving average is $10.00 and its two-hundred day moving average is $9.89.

First Trust Senior Floating Rate Income Fund II Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a $0.097 dividend. This represents a c) annualized dividend and a dividend yield of 11.8%. The ex-dividend date is Monday, March 2nd.

Hedge Funds Weigh In On First Trust Senior Floating Rate Income Fund II

Hedge funds have recently bought and sold shares of the business. Geneos Wealth Management Inc. boosted its stake in shares of First Trust Senior Floating Rate Income Fund II by 2.6% during the second quarter. Geneos Wealth Management Inc. now owns 40,891 shares of the investment management company’s stock valued at $415,000 after purchasing an additional 1,024 shares during the period. NWF Advisory Services Inc. lifted its holdings in First Trust Senior Floating Rate Income Fund II by 5.9% during the 2nd quarter. NWF Advisory Services Inc. now owns 24,187 shares of the investment management company’s stock valued at $246,000 after buying an additional 1,357 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in First Trust Senior Floating Rate Income Fund II by 12.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 31,396 shares of the investment management company’s stock valued at $314,000 after buying an additional 3,373 shares during the period. Strategic Financial Concepts LLC grew its stake in First Trust Senior Floating Rate Income Fund II by 9.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 42,100 shares of the investment management company’s stock worth $428,000 after acquiring an additional 3,600 shares in the last quarter. Finally, Truist Financial Corp grew its stake in First Trust Senior Floating Rate Income Fund II by 14.8% in the 3rd quarter. Truist Financial Corp now owns 34,731 shares of the investment management company’s stock worth $347,000 after acquiring an additional 4,473 shares in 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.