First Trust Senior Fltng Rate Incm Fd II (NYSE:FCT) Stock Passes Above 50-Day Moving Average of $11.95

Shares of First Trust Senior Fltng Rate Incm Fd II (NYSE:FCT) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $11.95 and traded as high as $11.99. First Trust Senior Fltng Rate Incm Fd II shares last traded at $11.95, with a volume of 158,805 shares.

The company has a 50 day moving average of $11.95 and a two-hundred day moving average of $11.95.

The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be paid a $0.083 dividend. The ex-dividend date is Friday, November 1st. This represents a $1.00 annualized dividend and a yield of 8.31%.

In other news, insider William A. Housey, Jr. purchased 2,700 shares of First Trust Senior Fltng Rate Incm Fd II stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average cost of $11.63 per share, with a total value of $31,401.00. Following the completion of the purchase, the insider now directly owns 1,903 shares in the company, valued at $22,131.89. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hedge funds have recently modified their holdings of the stock. Gradient Investments LLC grew its stake in shares of First Trust Senior Fltng Rate Incm Fd II by 21.9% in the third quarter. Gradient Investments LLC now owns 453,680 shares of the investment management company’s stock worth $5,444,000 after acquiring an additional 81,592 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of First Trust Senior Fltng Rate Incm Fd II by 14.6% during the second quarter. Invesco Ltd. now owns 450,485 shares of the investment management company’s stock valued at $5,428,000 after purchasing an additional 57,437 shares in the last quarter. PenderFund Capital Management Ltd. lifted its holdings in shares of First Trust Senior Fltng Rate Incm Fd II by 162.8% during the second quarter. PenderFund Capital Management Ltd. now owns 262,800 shares of the investment management company’s stock valued at $5,526,000 after purchasing an additional 162,800 shares in the last quarter. Virtus ETF Advisers LLC bought a new position in shares of First Trust Senior Fltng Rate Incm Fd II during the second quarter valued at $2,359,000. Finally, 6 Meridian bought a new position in shares of First Trust Senior Fltng Rate Incm Fd II during the second quarter valued at $518,000.

About First Trust Senior Fltng Rate Incm Fd II (NYSE:FCT)

First Trust Senior Floating Rate Income Fund II is a closed-ended fixed income mutual fund launched and managed by First Trust Advisors L.P. The fund invests in the fixed income markets of the United States. It seeks to invest in a portfolio of senior secured floating rate corporate loans. The fund benchmarks the performance of its portfolio against the S&P/LSTA Leveraged Loan Index.

Further Reading: Cost of Equity For A Business, Investors

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