TFG Advisers LLC Reduces Stock Position in First Trust Senior Floating Rate Income Fund II (NYSE:FCT)

TFG Advisers LLC cut its holdings in First Trust Senior Floating Rate Income Fund II (NYSE:FCT) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,759 shares of the investment management company’s stock after selling 4,475 shares during the period. TFG Advisers LLC’s holdings in First Trust Senior Floating Rate Income Fund II were worth $2,194,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of FCT. Wolverine Asset Management LLC acquired a new stake in shares of First Trust Senior Floating Rate Income Fund II during the 2nd quarter worth about $79,000. Concurrent Investment Advisors LLC lifted its position in shares of First Trust Senior Floating Rate Income Fund II by 11.5% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 11,150 shares of the investment management company’s stock worth $112,000 after buying an additional 1,150 shares during the last quarter. RFG Advisory LLC purchased a new stake in shares of First Trust Senior Floating Rate Income Fund II during the 1st quarter worth approximately $130,000. SeaCrest Wealth Management LLC boosted its holdings in shares of First Trust Senior Floating Rate Income Fund II by 29.3% in the 1st quarter. SeaCrest Wealth Management LLC now owns 13,805 shares of the investment management company’s stock valued at $143,000 after buying an additional 3,130 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in shares of First Trust Senior Floating Rate Income Fund II by 11.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 17,600 shares of the investment management company’s stock valued at $182,000 after buying an additional 1,746 shares during the last quarter.

First Trust Senior Floating Rate Income Fund II Price Performance

NYSE:FCT remained flat at $10.35 during midday trading on Wednesday. 13,364 shares of the company traded hands, compared to its average volume of 126,285. First Trust Senior Floating Rate Income Fund II has a 12-month low of $9.51 and a 12-month high of $10.93. The stock has a fifty day moving average of $10.33 and a two-hundred day moving average of $10.29.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.097 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 11.25%. The ex-dividend date is Friday, November 1st.

First Trust Senior Floating Rate Income Fund II Profile

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.