First Trust Senior Floating Rate Income Fund II (NYSE:FCT) to Issue Monthly Dividend of $0.10

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) declared a monthly dividend on Wednesday, May 21st, Wall Street Journal reports. Stockholders of record on Monday, June 2nd will be given a dividend of 0.097 per share by the investment management company on Monday, June 16th. This represents a $1.16 annualized dividend and a dividend yield of 11.82%. The ex-dividend date is Monday, June 2nd.

First Trust Senior Floating Rate Income Fund II has raised its dividend by an average of 23.5% per year over the last three years.

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

NYSE:FCT opened at $9.85 on Friday. The stock has a fifty day moving average price of $9.88 and a 200 day moving average price of $10.19. First Trust Senior Floating Rate Income Fund II has a 12-month low of $8.61 and a 12-month high of $10.93.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in First Trust Senior Floating Rate Income Fund II stock. Royal Bank of Canada lifted its stake in First Trust Senior Floating Rate Income Fund II (NYSE:FCT) by 12.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 167,829 shares of the investment management company’s stock after purchasing an additional 18,542 shares during the period. Royal Bank of Canada’s holdings in First Trust Senior Floating Rate Income Fund II were worth $1,702,000 at the end of the most recent 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.