Glassy Mountain Advisors Inc. Takes $244,000 Position in First Trust Senior Floating Rate Income Fund II (NYSE:FCT)

Glassy Mountain Advisors Inc. purchased a new stake in First Trust Senior Floating Rate Income Fund II (NYSE:FCT – Get Rating) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 25,587 shares of the investment management company’s stock, valued at approximately $244,000.

Several other hedge funds also recently made changes to their positions in the stock. Truist Financial Corp grew its position in shares of First Trust Senior Floating Rate Income Fund II by 4.0% in the third quarter. Truist Financial Corp now owns 28,918 shares of the investment management company’s stock valued at $289,000 after purchasing an additional 1,118 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of First Trust Senior Floating Rate Income Fund II by 9.6% in the first quarter. Envestnet Asset Management Inc. now owns 22,939 shares of the investment management company’s stock valued at $288,000 after purchasing an additional 2,000 shares in the last quarter. Shufro Rose & Co. LLC grew its position in shares of First Trust Senior Floating Rate Income Fund II by 11.8% in the third quarter. Shufro Rose & Co. LLC now owns 23,600 shares of the investment management company’s stock valued at $236,000 after purchasing an additional 2,500 shares in the last quarter. EWG Elevate Inc. grew its position in shares of First Trust Senior Floating Rate Income Fund II by 2.8% in the third quarter. EWG Elevate Inc. now owns 113,497 shares of the investment management company’s stock valued at $1,134,000 after purchasing an additional 3,129 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of First Trust Senior Floating Rate Income Fund II by 15.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 45,696 shares of the investment management company’s stock valued at $457,000 after purchasing an additional 6,255 shares in the last quarter.

First Trust Senior Floating Rate Income Fund II Price Performance

Shares of NYSE FCT traded down $0.10 during mid-day trading on Friday, hitting $9.32. The company had a trading volume of 117,842 shares, compared to its average volume of 144,053. First Trust Senior Floating Rate Income Fund II has a 1 year low of $9.32 and a 1 year high of $13.07. The stock’s 50-day moving average price is $9.88 and its 200-day moving average price is $9.87.

First Trust Senior Floating Rate Income Fund II Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, March 15th. Investors of record on Friday, March 3rd were given a dividend of $0.0695 per share. This represents a $0.83 annualized dividend and a yield of 8.95%. This is a boost from First Trust Senior Floating Rate Income Fund II’s previous monthly dividend of $0.07. The ex-dividend date of this dividend was Thursday, March 2nd.

First Trust Senior Floating Rate Income Fund II Profile

(Get Rating)

First Trust Senior Floating Rate Income Fund II is a diversified, closed-end management investment company. Its investment objective is to seek a high-level of current income, and preserve capital by investing primarily in a portfolio of senior secured floating-rate corporate loans. The company was founded on March 25, 2004 and is headquartered in Wheaton, IL.