Edgemoor Investment Advisors Inc. Cuts Stake in First Trust Senior Floating Rate Income Fund II $FCT

Edgemoor Investment Advisors Inc. decreased its holdings in First Trust Senior Floating Rate Income Fund II (NYSE:FCT) by 18.4% in the fourth quarter, Holdings Channel reports. The firm owned 490,037 shares of the investment management company’s stock after selling 110,540 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in First Trust Senior Floating Rate Income Fund II were worth $4,935,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FCT. Global Retirement Partners LLC increased its position in First Trust Senior Floating Rate Income Fund II by 181.9% during the 4th quarter. Global Retirement Partners LLC now owns 9,955 shares of the investment management company’s stock valued at $100,000 after buying an additional 6,424 shares in the last quarter. Alteri Wealth LLC acquired a new stake in First Trust Senior Floating Rate Income Fund II in the third quarter worth about $104,000. Jane Street Group LLC purchased a new stake in shares of First Trust Senior Floating Rate Income Fund II during the second quarter worth about $144,000. Seven Mile Advisory purchased a new stake in shares of First Trust Senior Floating Rate Income Fund II during the third quarter worth about $176,000. Finally, Verity Asset Management Inc. increased its holdings in shares of First Trust Senior Floating Rate Income Fund II by 62.0% during the third quarter. Verity Asset Management Inc. now owns 25,474 shares of the investment management company’s stock valued at $255,000 after acquiring an additional 9,754 shares in the last quarter.

First Trust Senior Floating Rate Income Fund II Trading Up 0.2%

FCT stock opened at $9.70 on Friday. First Trust Senior Floating Rate Income Fund II has a 52 week low of $9.40 and a 52 week high of $10.29. The firm has a 50 day moving average of $9.69 and a 200 day moving average of $9.80.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.097 dividend. The ex-dividend date is Monday, June 1st. This represents a c) dividend on an annualized basis and a yield of 12.0%.

First Trust Senior Floating Rate Income Fund II 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.