First Trust Senior Floating Rate Income Fund II (FCT)
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FCT Chart
FCT: Another CEF Bites The Dust (Rating Downgrade)
First Trust Senior Floating Rate Income Fund II (FCT) is downgraded to 'Hold' as its discount to NAV has narrowed to -1%. FCT's upcoming conversion to an ETF (FFLX), pending a June 2026 shareholder vote, will eliminate leverage and discount volatility. Post-conversion, FFLX will offer less risk and volatility but will no longer provide leveraged exposure to floating rate loans.
First Trust Senior Floating Rate Income Fund II $FCT Shares Sold by 1607 Capital Partners LLC
1607 Capital Partners LLC cut its position in shares of First Trust Senior Floating Rate Income Fund II (NYSE: FCT) by 66.2% during the undefined quarter, according to the company in its most recent filing with the SEC. The firm owned 53,461 shares of the investment management company's stock after selling 104,500 shares
First Trust Senior Floating Rate Income Fund II Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| PER Paul E. Rasmussen SIT INVESTMENT ASSOCIATES Inc. | 85,914 | $865,217.18 | $824,344.83 | -$40,872.35 | -4.72% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 1,169 | $11,269.16 | $11,210.71 | -$58.45 | -0.52% |
| CAL CoreCap Advisors LLC CoreCap Advisors LLC | 3,441 | $33,257.35 | $33,033.6 | -$223.75 | -0.67% |
 Daniel Guy Ethos Financial Group LLC | 21,449 | $214,513.86 | $206,017.64 | -$8,496.22 | -3.96% |
 Brian Matter Creative Capital Management Investments LLC | 250 | $2,410 | $2,401.25 | -$8.75 | -0.36% |
First Trust Senior Floating Rate Income Fund II (FCT) FAQ
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First Trust Senior Floating Rate Income Fund II Profile
| NYSE Exchange | US Country |
Overview
First Trust Senior Floating Rate Income Fund II is a specialized closed-ended fixed income mutual fund that is managed by First Trust Advisors L.P. The fund is primarily focused on the fixed income markets within the United States, with a specific emphasis on investing in a diverse portfolio of senior secured floating rate corporate loans. Established on May 25, 2004, the fund is domiciled in the United States and operates under the performance benchmark of the S&P/LSTA Leveraged Loan Index. Originally known as First Trust/Four Corners Senior Floating Rate Income Fund II, it offers investors a mechanism to gain exposure to floating rate income opportunities in a fluctuating interest rate environment.
Products and Services
- Floating Rate Corporate Loans
The fund invests predominantly in senior secured floating rate corporate loans, which are debt instruments issued by corporations that pay interest that adjusts periodically based on market rates. This strategy allows investors to potentially benefit from rising interest rates as the earnings from these loans can increase with the lending rates.
- Fixed Income Market Investment
The focus on the fixed income markets enables the fund to tap into a wide range of investment opportunities, providing diversification and potential stability during volatile economic periods. By targeting corporate loans, the fund enhances its yield profile compared to traditional fixed income investments.
- Performance Benchmarking
The fund benchmarks its performance against the S&P/LSTA Leveraged Loan Index, which allows investors to track the fund's relative performance within the universe of leveraged loans. This comparative analysis can help in assessing management effectiveness and overall market sentiment.
- Closed-End Fund Structure
As a closed-ended fund, First Trust Senior Floating Rate Income Fund II maintains a fixed number of shares, which can lead to unique pricing dynamics influenced by market supply and demand. This structure can provide investors with opportunities for capital appreciation as well as income distribution.
- Active Management
The fund is actively managed by First Trust Advisors L.P., which employs experienced portfolio managers to analyze market conditions and make informed investment decisions. This hands-on approach aims to optimize returns while managing risks associated with floating rate loans and overall market fluctuations.
