Cetera Investment Advisers has reduced its stake in the First Trust Senior Floating Rate Income Fund II (NYSE: FCT) by 10%, according to its latest filing with the Securities and Exchange Commission (SEC). As of March 31, 2024, the firm now holds 44,370 shares of the fund after selling 4,922 shares during the first quarter. The value of its holdings is approximately $450,000 at the time of the filing.
This adjustment is part of a broader trend, as several institutional investors have also modified their positions in the First Trust fund. Notably, SeaCrest Wealth Management LLC increased its stake by 6.6% during the same period, acquiring an additional 1,128 shares to reach a total of 18,280 shares, valued at $185,000.
Another significant adjustment was made by Invesco Ltd., which raised its stake by 0.7% in the fourth quarter, now owning 380,667 shares worth approximately $3,940,000 after acquiring 2,560 shares.
Notably, NBC Securities Inc. made a remarkable increase of 140,400% in its holdings during the first quarter, now owning 2,810 shares valued at $28,000 after acquiring 2,808 shares. Additionally, Envestnet Asset Management Inc. raised its stake by 10.6%, totaling 30,238 shares worth $313,000.
Another noteworthy investor, Cullen Frost Bankers Inc., also increased its stake by 30%, now holding 13,000 shares valued at $132,000 following an acquisition of an additional 3,000 shares.
Market Performance and Fund Overview
As of the latest market data, shares of the First Trust Senior Floating Rate Income Fund II opened at $10.06. The fund has maintained a 50-day simple moving average of $10.06 and a 200-day average of $10.04. Over the past year, the fund has experienced a low of $8.61 and a high of $10.93.
The First Trust Senior Floating Rate Income Fund II is a closed-end fixed-income mutual fund managed by First Trust Advisors L.P.. It focuses on investments within the fixed-income markets of the United States, specifically targeting a portfolio of senior secured floating rate corporate loans. The fund’s performance is benchmarked against the S&P/LSTA Leveraged Loan Index.
Investors interested in keeping track of institutional holdings can visit HoldingsChannel.com for the latest 13F filings and insider trades associated with the First Trust Senior Floating Rate Income Fund II.
