Shaker Financial Services LLC Has $594,000 Position in First Trust Senior Floating Rate Income Fund II (NYSE:FCT)

by · The Markets Daily

Shaker Financial Services LLC cut its stake in shares of First Trust Senior Floating Rate Income Fund II (NYSE:FCT – Free Report) by 12.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,300 shares of the investment management company’s stock after selling 7,865 shares during the quarter. Shaker Financial Services LLC’s holdings in First Trust Senior Floating Rate Income Fund II were worth $594,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. grew its stake in shares of First Trust Senior Floating Rate Income Fund II by 11.0% during the first quarter. Oppenheimer & Co. Inc. now owns 17,600 shares of the investment management company’s stock worth $182,000 after buying an additional 1,746 shares during the last quarter. City of London Investment Management Co. Ltd. grew its position in First Trust Senior Floating Rate Income Fund II by 10.1% during the 1st quarter. City of London Investment Management Co. Ltd. now owns 407,784 shares of the investment management company’s stock worth $4,221,000 after acquiring an additional 37,262 shares during the last quarter. Advisors Asset Management Inc. grew its position in First Trust Senior Floating Rate Income Fund II by 12.6% during the 1st quarter. Advisors Asset Management Inc. now owns 296,725 shares of the investment management company’s stock worth $3,071,000 after acquiring an additional 33,230 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in First Trust Senior Floating Rate Income Fund II by 40.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 39,157 shares of the investment management company’s stock worth $392,000 after purchasing an additional 11,202 shares in the last quarter. Finally, Cetera Advisors LLC bought a new position in First Trust Senior Floating Rate Income Fund II in the first quarter valued at about $201,000.

First Trust Senior Floating Rate Income Fund II Stock Performance

NYSE:FCT opened at $10.34 on Friday. The stock’s 50-day moving average is $10.34 and its 200-day moving average is $10.30. First Trust Senior Floating Rate Income Fund II has a 1-year low of $9.64 and a 1-year high of $10.93.

First Trust Senior Floating Rate Income Fund II Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.097 per share. This represents a $1.16 dividend on an annualized basis and a yield of 11.26%. The ex-dividend date is Friday, November 1st.

About First Trust Senior Floating Rate Income Fund II

(Free Report)

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

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