RFG Advisory LLC Sells 67,621 Shares of First Trust Senior Floating Rate Income Fund II $FCT

RFG Advisory LLC reduced its stake in First Trust Senior Floating Rate Income Fund II (NYSE:FCT) by 74.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,196 shares of the investment management company’s stock after selling 67,621 shares during the period. RFG Advisory LLC’s holdings in First Trust Senior Floating Rate Income Fund II were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Royal Bank of Canada boosted its stake in First Trust Senior Floating Rate Income Fund II by 12.4% in the 1st quarter. Royal Bank of Canada now owns 167,829 shares of the investment management company’s stock valued at $1,702,000 after buying an additional 18,542 shares in the last quarter. Invesco Ltd. raised its stake in First Trust Senior Floating Rate Income Fund II by 36.6% during the second quarter. Invesco Ltd. now owns 512,105 shares of the investment management company’s stock worth $5,203,000 after acquiring an additional 137,308 shares in the last quarter. Jane Street Group LLC bought a new position in shares of First Trust Senior Floating Rate Income Fund II during the second quarter valued at $144,000. Ameriprise Financial Inc. lifted its holdings in shares of First Trust Senior Floating Rate Income Fund II by 27.8% during the second quarter. Ameriprise Financial Inc. now owns 188,001 shares of the investment management company’s stock valued at $1,910,000 after acquiring an additional 40,907 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of First Trust Senior Floating Rate Income Fund II by 2.0% in the 2nd quarter. Bank of America Corp DE now owns 643,395 shares of the investment management company’s stock valued at $6,537,000 after purchasing an additional 12,835 shares in the last quarter.

First Trust Senior Floating Rate Income Fund II Stock Down 0.5%

FCT opened at $9.61 on Thursday. The firm’s 50-day simple moving average is $9.68 and its 200-day simple moving average is $9.80. First Trust Senior Floating Rate Income Fund II has a twelve month low of $9.40 and a twelve month high of $10.29.

First Trust Senior Floating Rate Income Fund II Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be given a $0.0813 dividend. The ex-dividend date is Wednesday, July 1st. This represents a c) dividend on an annualized basis and a yield of 10.1%.

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.