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2024 Estimated Capital Gain Distributions
Please note that none our First Trust Closed-End Funds are expected to pay a special long-term capital gain distribution in December. Also, none of the First Trust Closed-End Funds are expected to pay any special short-term capital gain distributions in December. Final determination of the source and tax status of all distributions paid in the current year are to be made after year-end and could differ from the expectations noted above.
Investment Objective/Strategy - First Trust Senior Floating Rate Income Fund II (the "Fund") is a diversified, closed-end management investment company. The primary investment objective of the Fund is to seek a high level of current income. As a secondary objective, the Fund attempts to preserve capital. The Fund pursues its objectives by investing primarily in a portfolio of senior secured floating-rate corporate loans ("Senior Loans"). Under normal market conditions, at least 80% of the Fund's Managed Assets are generally invested in a diversified portfolio of Senior Loans. "Managed Assets" means the total asset value of the Fund minus the sum of its liabilities, other than the principal amount of borrowings. There can be no assurance that the Fund will achieve its investment objectives. Investing in Senior Loans involves credit risk and, during periods of generally declining credit quality, it may be particularly difficult for the Fund to achieve its secondary investment objective.
There can be no assurance that the Fund's investment objectives will be achieved. The Fund may not be appropriate for all investors.
Ticker | FCT |
Fund Type | Loan Participation |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | Computershare Trust Company, N.A. |
CUSIP | 33733U108 |
Fiscal Year-End | 05/31 |
Exchange | NYSE |
Inception | 5/25/2004 |
Inception Price | $20.00 |
Inception NAV | $19.10 |
Closing NAV1 | $10.84 |
Closing Market Price2 | $10.32 |
Discount to Net Asset Value (NAV) | 4.80% |
Total Managed Assets | $315,646,195 |
Common Shares Outstanding | 25,983,388 |
Dividend Frequency | Monthly |
Dividend Per Share Amt3 | $0.0970 |
Distribution Rate4 | 11.28% |
Daily Volume | 55,634 |
Average 30-Day Daily Volume | 103,812 |
Closing Market Price 52-Week High/Low | $10.55 / $9.73 |
Closing NAV 52-Week High/Low | $11.17 / $10.77 |
Annual Expenses | Percent of Net Assets | Percent of Managed Assets |
Management Fees | 0.90% | 0.75% |
Other Expenses | 0.24% | 0.21% |
Total Operating Expenses | 1.14% | 0.96% |
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Leverage Costs | 1.31% | 1.10% |
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Total Annual Expenses | 2.45% | 2.06% |
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Leverage costs include interest, fees and any upfront/offering costs associated with borrowings by the Fund.
Weighted Average Maturity | 4.82 Years |
Weighted Average Price | $98.78 |
Weighted Average Yield-To-Maturity5 | 8.55% |
Weighted Average Yield-to-Worst6 | 8.47% |
Percent of Assets with Interest Rate Floors | 44.16% |
Please note: Weighted average maturity excludes defaulted assets.
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S&P Rating |
Percent |
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BBB-
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2.12%
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BB+
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4.10%
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BB
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4.54%
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BB-
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11.20%
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B+
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15.63%
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B
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36.61%
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B-
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20.54%
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CCC+
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3.66%
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CCC
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0.24%
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CCC-
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0.30%
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NR
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1.06%
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The ratings are by S&P Global Ratings except where otherwise indicated. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are only privately rated. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. "NR" indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change.
Past performance is not indicative of future results.
Total Net Assets with Leverage | $315,646,195 |
Amount Attributable to Common Shares | $281,646,195 |
Amount Attributable to Other Borrowings | $34,000,000 |
Leverage (% of Total Adjusted Net Assets) | 10.77% |
Holding |
Percent |
Clarivate Analytics PLC (Camelot) |
2.38% |
CCC Intelligent Solutions Inc. |
2.19% |
Dun & Bradstreet Corp. |
2.11% |
Edelman Financial Engines Center, LLC |
2.09% |
Alliant Holdings I, LLC |
2.07% |
IRB Holding Corp. (Arby's/Inspire Brands) |
2.01% |
1011778 B.C. Unlimited Liability Company (Restaurant Brands) (aka Burger King/Tim Horton's) |
2.00% |
Hub International Limited |
1.86% |
USI, Inc. |
1.85% |
Informatica Corporation |
1.68% |
Industry |
Percent |
Software |
19.85% |
Insurance |
17.06% |
Professional Services |
7.53% |
Health Care Technology |
6.95% |
Hotels, Restaurants & Leisure |
6.38% |
Containers & Packaging |
5.68% |
Commercial Services & Supplies |
5.64% |
Health Care Providers & Services |
4.32% |
Media |
4.11% |
Capital Markets |
2.32% |
Diversified Telecommunication Services |
2.22% |
Specialty Retail |
2.21% |
Machinery |
2.06% |
Diversified Consumer Services |
2.00% |
Food Products |
2.00% |
Financial Services |
1.68% |
Health Care Equipment & Supplies |
1.54% |
Aerospace & Defense |
1.49% |
Automobile Components |
1.24% |
Broadline Retail |
0.88% |
Life Sciences Tools & Services |
0.78% |
Electronic Equipment, Instruments & Components |
0.65% |
Pharmaceuticals |
0.53% |
Construction & Engineering |
0.27% |
Consumer Staples Distribution & Retail |
0.25% |
IT Services |
0.18% |
Building Products |
0.12% |
Leisure Products |
0.06% |
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The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
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