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

First Trust Senior Floating Rate Income Fund II (NYSE:FCT)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.96 and traded as low as $9.54. First Trust Senior Floating Rate Income Fund II shares last traded at $9.62, with a volume of 155,166 shares.

First Trust Senior Floating Rate Income Fund II Price Performance

The firm’s 50-day simple moving average is $9.90 and its 200 day simple moving average is $9.96.

First Trust Senior Floating Rate Income Fund II Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be given a $0.097 dividend. The ex-dividend date is Monday, November 3rd. This represents a c) annualized dividend and a yield of 12.1%.

Institutional Investors Weigh In On First Trust Senior Floating Rate Income Fund II

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. raised its position in First Trust Senior Floating Rate Income Fund II by 2.6% in the second quarter. Geneos Wealth Management Inc. now owns 40,891 shares of the investment management company’s stock worth $415,000 after acquiring an additional 1,024 shares in the last quarter. NWF Advisory Services Inc. raised 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 worth $246,000 after buying an additional 1,357 shares during the period. RFG Advisory LLC lifted its stake in First Trust Senior Floating Rate Income Fund II by 5.4% during the second quarter. RFG Advisory LLC now owns 33,717 shares of the investment management company’s stock valued at $343,000 after buying an additional 1,731 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of First Trust Senior Floating Rate Income Fund II by 30.0% in the first quarter. Cullen Frost Bankers Inc. now owns 13,000 shares of the investment management company’s stock worth $132,000 after buying an additional 3,000 shares during the period. Finally, TFG Advisers LLC increased its position in shares of First Trust Senior Floating Rate Income Fund II by 1.5% in the second quarter. TFG Advisers LLC now owns 222,532 shares of the investment management company’s stock worth $2,261,000 after acquiring an additional 3,298 shares in the last quarter.

About First Trust Senior Floating Rate Income Fund II

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.