Welcome to our dedicated page for First Trust Senior FR Income II news (Ticker: FCT), a resource for investors and traders seeking the latest updates and insights on First Trust Senior FR Income II stock.
First Trust Senior Floating Rate Income Fund II (NYSE: FCT) is a diversified, closed-end management investment company that focuses on generating a high level of current income, with a secondary objective of attempting to preserve capital. The fund invests primarily in senior secured floating-rate corporate loans and lower grade debt instruments, providing exposure to credit markets across industries such as insurance, software, health care providers and services, professional services, health care technology and IT services.
This news page highlights developments that affect FCT and its shareholders. A key recent event is the Board of Trustees’ approval of a proposed reorganization of FCT into First Trust Flexible Income ETF, a newly created, actively managed exchange-traded fund expected to trade on the NYSE. News related to this proposed reorganization, including regulatory filings, proxy materials and updates on approvals or conditions, is particularly relevant for investors evaluating how the fund’s structure and investment vehicle may change.
In addition to corporate actions, FCT-related news can include announcements from First Trust Advisors L.P., the fund’s investment advisor, as well as disclosures filed with the SEC, such as Form 8-K reports describing material events. Because FCT invests in senior secured floating-rate corporate loans and lower grade debt instruments, news may also reference changes in the fund’s investment policies, portfolio composition or risk disclosures as reported in official documents.
Investors and observers can use this page to follow formal communications about FCT, especially those tied to the proposed reorganization into an ETF and other regulatory or governance updates. Reviewing these items together provides context on how the fund’s strategy, structure and key events are described in official announcements and filings.
First Trust Senior Floating Rate Income Fund II (NYSE: FCT) has announced a monthly common share distribution of $0.097 per share for July 2024. Shareholders on record as of July 1, 2024, will receive this distribution on July 15, 2024. The distribution rate is 10.65% based on the June 18 NAV of $10.93 and 11.48% based on the market price of $10.14. This payout will include net investment income and return of capital, with possible short-term realized capital gains. The final tax status will be determined post-2024 and reported on Form 1099-DIV. The Fund invests primarily in senior secured floating-rate corporate loans, targeting high current income and capital preservation. Principal risks involve market fluctuations, economic conditions, and credit risks associated with lower-grade debt instruments.
First Trust Senior Floating Rate Income Fund II (NYSE: FCT) announced its scheduled monthly common share distribution of $0.097 per share for June 2024. This distribution, payable on June 17, 2024, to shareholders of record as of June 3, 2024, represents a distribution rate of 10.56% based on the May 17, 2024 NAV of $11.02 and 11.03% based on the May 17, 2024 closing market price of $10.55. The distribution consists of net investment income, return of capital, and potential net short-term realized capital gains.
First Trust Advisors L.P., managing approximately $218 billion in assets, serves as the investment advisor. The Fund invests primarily in senior secured floating-rate corporate loans, focusing on lower-grade debt instruments, which may present higher credit risk. The Fund aims to maintain stable monthly distributions, which could affect its NAV. Risks associated with the Fund include market risk, credit risk, interest rate risk, and liquidity risk, among others.
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