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First Trust Senior Floating Rate Income Fund II (FCT)

- NYSE
  • Wed, May 13, 12:02 PM
    • Vanguard Group, Guggenheim Investments, and First Trust are among U.S. ETF providers lining up bank credit lines or expanding existing ones in order to meet a rash of redemptions in some future market panic, writes Ashley Lau and Michael Flaherty.
    • At issue are ETFs in less liquid corners of the fixed-income world - bank loans (also known as senior or leveraged loans) and high-yield come to mind.
    • State Street (NYSE:STT) and Invesco's (NYSE:IVZ) PowerShares have credit lines for their respective senior loan ETFs (SRLN, BKLN, VVR), with SRLN having exclusive access to $100M of the $300M total credit facility State Street has in place.
    • BlackRock (NYSE:BLK) hasn't opened any lines for its bond funds as it doesn't trade in these less liquid areas, but it has opened a line for some its emerging market stock ETFs.
    • Senior loan ETFs: BKLN, OXLC, PPR, EFR, VVR, PHD, SRLN, NSL, BGB, BGX, FCT, SNLN, EVF, ECC, AFT, BSL, TSLF, FTSL, TLI, BHL
    | 10 Comments
  • Mon, Apr. 20, 5:06 PM
    • First Trust Senior Floating Rate Income Fund II (NYSE:FCT) declares $0.072/share monthly dividend, in line with previous.
    • Forward yield 6.21%
    • Payable May 15; for shareholders of record May 5; ex-div May 1.
    | Comment!
  • Thu, Feb. 19, 4:45 PM
    • First Trust Senior Floating Rate Income Fund II (NYSE:FCT) declares $0.072/share monthly dividend, in line with previous.
    • Forward yield 6.46%
    • Payable March 16; for shareholders of record March 4; ex-div March 2.
    | Comment!
  • Dec. 18, 2013, 6:43 AM
    | Comment!
  • Nov. 4, 2013, 1:14 PM
    • Closed-end bond funds had a good October - up 1.89% on a per-share basis while NAV grew 1.96%. This means, however, the sizable discount to NAV for the group of 6.04% failed to budge from a month earlier.
    • "The materially large discounts represents an opportunity for investors to reduce risk," says Stifel's Alexander Reiss and Thomas Boyes. The boost an investor gets when buying a CEF at a discount is what they term the Discount Yield Benefit (DYB), and - among other things - it can make the net cost of owning a CEF cheaper than traditional lower-cost options like passively-managed index funds.
    • Current favorites of the team are: ERC, MCR, MMT, and FT, all of which trade at discounts to NAV of about 12%.
    • Senior loan funds have remained more popular (possibly a danger, according to this analysis) and trade at an average discount of just 3.61%. The team's favorites are FCT, PPR, and VVR.
    | 1 Comment
  • Oct. 21, 2013, 5:37 PM
    • First Trust Senior Floating Rate Income Fund II (FCT) declares $0.08/share monthly dividend.
    • Payable Nov. 15; for shareholders of record Nov. 5; ex-div Nov. 1.
    | Comment!
  • Sep. 20, 2013, 12:13 AM
    • First Trust Senior Floating Rate Income Fund II (FCT) declares $0.08/share monthly dividend, in line with prior.
    • Forward yield 6.49%.
    • Payable Oct. 15; for shareholders of record Oct. 3; ex-div Oct. 1.
    | Comment!
  • Jul. 22, 2013, 5:17 PM
    First Trust Senior Floating Rate Income Fund II (FCT) declares Aug. monthly distribution of $0.0875/share. For shareholders of record Aug. 5. Payable Aug. 15. Ex-div Aug. 1. (PR)
    | Comment!
  • Nov. 20, 2012, 4:47 PM
    First Trust Senior Floating Rate Income Fund II (FCT) declares $0.0875/share monthly dividend, in line with previous. Forward yield 6.89%. For shareholders of record Dec 05. Payable Dec 10. Ex-div date Dec 03. (PR)
    | Comment!
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Company Description
The Fund is a diversified investment management company that seeks a high level of current income with a secondary objective of capital preservation. It will pursue its investment objectives through investment in a portfolio of senior secured floating rate