First Trust Senior Floating Rate Income Fund II Declares its Monthly Common Share Distribution of $0.097 Per Share for November
First Trust Senior Floating Rate Income Fund II (NYSE: FCT) has announced a monthly common share distribution of $0.097 per share payable on November 15, 2024, to shareholders of record as of November 1, 2024. The ex-dividend date is also November 1, 2024. The distribution rate is 10.72% based on the October 18, 2024 NAV of $10.86, and 11.25% based on the closing market price of $10.35. The distribution includes net investment income, return of capital, and possibly net short-term realized capital gains. Final tax status will be provided on Form 1099-DIV after year-end.
The Fund, managed by First Trust Advisors L.P., aims for high current income and capital preservation by investing primarily in senior secured floating-rate corporate loans. It will invest at least 80% of its managed assets in lower-grade debt instruments under normal conditions. The Fund's investment strategy is unaffected by its distribution practices, which may impact NAV.
First Trust Senior Floating Rate Income Fund II (NYSE: FCT) ha annunciato una distribuzione mensile di azioni ordinarie di $0.097 per azione che sarà pagata il 15 novembre 2024, agli azionisti registrati al 1 novembre 2024. La data ex-dividendo è anch'essa il 1 novembre 2024. Il tasso di distribuzione è del 10.72% basato sul NAV del 18 ottobre 2024 di $10.86, e 11.25% basato sul prezzo di mercato di chiusura di $10.35. La distribuzione include il reddito netto da investimenti, il ritorno di capitale e, possibilmente, guadagni da capitale realizzati a breve termine netti. Lo stato fiscale finale sarà fornito sul Modulo 1099-DIV dopo la fine dell'anno.
Il Fondo, gestito da First Trust Advisors L.P., punta a un alto reddito corrente e alla preservazione del capitale investendo principalmente in prestiti aziendali garantiti a tasso flottante. Investirà almeno l'80% dei suoi attivi gestiti in strumenti di debito di grado inferiore in condizioni normali. La strategia di investimento del Fondo non è influenzata dalle sue pratiche di distribuzione, che potrebbero impattare il NAV.
First Trust Senior Floating Rate Income Fund II (NYSE: FCT) ha anunciado una distribución mensual de acciones comunes de $0.097 por acción que se pagará el 15 de noviembre de 2024, a los accionistas registrados hasta el 1 de noviembre de 2024. La fecha ex-dividendo también es el 1 de noviembre de 2024. La tasa de distribución es del 10.72% basada en el NAV del 18 de octubre de 2024 de $10.86, y del 11.25% basada en el precio de cierre del mercado de $10.35. La distribución incluye ingresos netos por inversiones, retorno de capital y, posiblemente, ganancias de capital realizadas a corto plazo netas. El estado fiscal final se proporcionará en el formulario 1099-DIV después de fin de año.
El Fondo, gestionado por First Trust Advisors L.P., busca alto ingreso corriente y preservación de capital al invertir principalmente en préstamos corporativos garantizados a tasa flotante. Invertirá al menos el 80% de sus activos gestionados en instrumentos de deuda de menor grado en condiciones normales. La estrategia de inversión del Fondo no se ve afectada por sus prácticas de distribución, que pueden impactar el NAV.
퍼스트 트러스트 시니어 플로팅 레이트 인컴 펀드 II (NYSE: FCT)는 주식 배당금 분배 $0.097 per share를 발표했습니다. 이 배당금은 2024년 11월 15일에 지급되며, 2024년 11월 1일 기준 주주에게 지급됩니다. 배당금 기준일도 2024년 11월 1일입니다. 배당금 비율은 2024년 10월 18일 NAV인 $10.86 기준으로 10.72%, 마감 시장 가격인 $10.35 기준으로는 11.25%입니다. 분배금에는 순 투자 수익, 자본 환급 및 단기 실현 자본 이익이 포함될 수 있습니다. 최종 세금 상태는 연말 후에 양식 1099-DIV로 제공됩니다.
펀드는 퍼스트 트러스트 어드바이저스 L.P.가 관리하며, 우선적으로 담보가 있는 변동 금리 기업 대출에 투자하여 높은 현재 수익과 자본 보전을 목표로 합니다. 정상적인 조건에서 관리 자산의 최소 80%를 등급이 낮은 채무 상품에 투자합니다. 펀드의 투자 전략은 분배 관행의 영향을 받지 않으며, 이는 NAV에 영향을 줄 수 있습니다.
First Trust Senior Floating Rate Income Fund II (NYSE: FCT) a annoncé une distributions mensuelles d'actions ordinaires de 0,097 $ par action à verser le 15 novembre 2024, aux actionnaires inscrits au 1er novembre 2024. La date ex-dividende est également le 1er novembre 2024. Le taux de distribution est de 10,72 % basé sur la valeur liquidative du 18 octobre 2024 de 10,86 $, et de 11,25 % basé sur le prix de marché de clôture de 10,35 $. La distribution comprend les revenus nets d'investissement, le retour de capital et éventuellement les gains en capital réalisés à court terme nets. Le statut fiscal final sera fourni sur le formulaire 1099-DIV après la fin de l'année.
Le Fonds, géré par First Trust Advisors L.P., vise un revenu courant élevé et la préservation du capital en investissant principalement dans des prêts d'entreprise garantis à taux flottant. Il investira au moins 80 % de ses actifs gérés dans des instruments de dette de moindre qualité dans des conditions normales. La stratégie d'investissement du Fonds n'est pas affectée par ses pratiques de distribution, qui peuvent avoir un impact sur la valeur liquidative.
First Trust Senior Floating Rate Income Fund II (NYSE: FCT) hat eine monatliche Ausschüttung von Stammaktien in Höhe von $0.097 pro Aktie angekündigt, die am 15. November 2024 an die Aktionäre ausgezahlt wird, die am 1. November 2024 im Aktienregister stehen. Der Ex-Dividendentag ist ebenfalls der 1. November 2024. Der Ausschüttungssatz beträgt 10.72% basierend auf dem NAV vom 18. Oktober 2024 von $10.86 und 11.25% basierend auf dem Schlussmarktpreis von $10.35. Die Ausschüttung umfasst Nettoanlageerträge, Kapitalrückzahlungen und möglicherweise realisierte Nettoerträge aus kurzfristigen Kapitalgewinnen. Der endgültige Steuerstatus wird nach Jahresende auf Formular 1099-DIV bereitgestellt.
Der Fonds, der von First Trust Advisors L.P. verwaltet wird, zielt auf hohe laufende Erträge und Kapitalerhaltung ab, indem er hauptsächlich in besicherte variabel verzinsliche Unternehmenskredite investiert. Unter normalen Bedingungen wird er mindestens 80% seiner verwalteten Vermögenswerte in minderwertige Schuldtitel investieren. Die Anlagestrategie des Fonds wird nicht durch die Ausschüttungspraktiken beeinflusst, die den NAV beeinflussen können.
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This distribution will consist of net investment income earned by the Fund and return of capital and may also consist of net short-term realized capital gains. The final determination of the source and tax status of all distributions paid in 2024 will be made after the end of 2024 and will be provided on Form 1099-DIV.
The Fund has a practice of seeking to maintain a relatively stable monthly distribution which may be changed periodically. First Trust Advisors L.P. ("FTA") believes the practice may benefit the Fund's market price and premium/discount to the Fund's NAV. The practice has no impact on the Fund's investment strategy and may reduce the Fund's NAV.
The Fund is a diversified, closed-end management investment company. The Fund's primary investment objective is to seek a high level of current income. As a secondary objective, the Fund attempts to preserve capital. The Fund pursues these investment objectives by investing primarily in senior secured floating-rate corporate loans. Under normal market conditions, the Fund will invest at least
First Trust Advisors L.P. ("FTA") is a federally registered investment advisor and serves as the Fund's investment advisor. FTA and its affiliate First Trust Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately
Principal Risk Factors: Risks are inherent in all investing. Certain risks applicable to the Fund are identified below, which includes the risk that you could lose some or all of your investment in the Fund. The principal risks of investing in the Fund are spelled out in the Fund's annual shareholder reports. The order of the below risk factors does not indicate the significance of any particular risk factor. The Fund also files reports, proxy statements and other information that is available for review.
Past performance is no assurance of future results. Investment return and market value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost. There can be no assurance that the Fund's investment objectives will be achieved. The Fund may not be appropriate for all investors.
Market risk is the risk that a particular investment, or shares of a fund in general may fall in value. Investments held by the Fund are subject to market fluctuations caused by real or perceived adverse economic conditions, political events, regulatory factors or market developments, changes in interest rates and perceived trends in securities prices. Shares of a fund could decline in value or underperform other investments as a result. In addition, local, regional or global events such as war, acts of terrorism, market manipulation, government defaults, government shutdowns, regulatory actions, political changes, diplomatic developments, the imposition of sanctions and other similar measures, spread of infectious disease or other public health issues, recessions, natural disasters or other events could have significant negative impact on a fund and its investments.
Current market conditions risk is the risk that a particular investment, or shares of the fund in general, may fall in value due to current market conditions. As a means to fight inflation, the Federal Reserve and certain foreign central banks have raised interest rates; however, the Federal Reserve has recently lowered interest rates and may continue to do so. Recent and potential future bank failures could result in disruption to the broader banking industry or markets generally and reduce confidence in financial institutions and the economy as a whole, which may also heighten market volatility and reduce liquidity. Ongoing armed conflicts between
The Fund will typically invest in senior loans rated below investment grade, which are commonly referred to as "junk" or "high-yield" securities and considered speculative because of the credit risk of their issuers. Such issuers are more likely than investment grade issuers to default on their payments of interest and principal owed to the Fund, and such defaults could reduce the Fund's NAV and income distributions. An economic downturn would generally lead to a higher non-payment rate, and a senior loan may lose significant market value before a default occurs. Moreover, any specific collateral used to secure a senior loan may decline in value or become illiquid, which would adversely affect the senior loan's value.
The senior loan market has seen an increase in loans with weaker lender protections which may impact recovery values and/or trading levels in the future. The absence of financial maintenance covenants in a loan agreement generally means that the lender may not be able to declare a default if financial performance deteriorates. This may hinder the Fund's ability to reprice credit risk associated with a particular borrower and reduce the Fund's ability to restructure a problematic loan and mitigate potential loss. As a result, the Fund's exposure to losses on investments in senior loans may be increased, especially during a downturn in the credit cycle or changes in market or economic conditions.
To the extent a fund invests in floating or variable rate obligations that use the London Interbank Offered Rate ("LIBOR") as a reference interest rate, it is subject to LIBOR Risk. LIBOR has ceased to be made available as a reference rate and there is no assurance that any alternative reference rate, including the Secured Overnight Financing Rate ("SOFR"), will be similar to or produce the same value or economic equivalence as LIBOR. The unavailability or replacement of LIBOR may affect the value, liquidity or return on certain fund investments and may result in costs incurred in connection with closing out positions and entering into new trades. Any potential effects of the transition away from LIBOR on a fund or on certain instruments in which a fund invests is difficult to predict and could result in losses to the fund.
A second lien loan may have a claim on the same collateral pool as the first lien or it may be secured by a separate set of assets. Second lien loans are typically secured by a second priority security interest or lien on specified collateral securing the Borrower's obligation under the interest. Because second lien loans are second to first lien loans, they present a greater degree of investment risk. Specifically, these loans are subject to the additional risk that the cash flow of the Borrower and property securing the loan may be insufficient to meet scheduled payments after giving effect to those loans with a higher priority. In addition, loans that have a lower than first lien priority on collateral of the Borrower generally have greater price volatility than those loans with a higher priority and may be less liquid.
In the event a borrower fails to pay scheduled interest or principal payments on a senior loan held by the Fund, the Fund will experience a reduction in its income and a decline in the value of the senior loan, which will likely reduce dividends and lead to a decline in the net asset value of the Fund's common shares. If the Fund acquires a senior loan from another lender, for example, by acquiring a participation, the Fund may also be subject to credit risks with respect to that lender. Although senior loans may be secured by specific collateral, the value of the collateral may not equal the Fund's investment when the senior loan is acquired or may decline below the principal amount of the senior loan subsequent to the Fund's investment. Also, to the extent that collateral consists of stock of the borrower or its subsidiaries or affiliates, the Fund bears the risk that the stock may decline in value, be relatively illiquid, and/or may lose all or substantially all of its value, causing the senior loan to be under collateralized. Therefore, the liquidation of the collateral underlying a senior loan may not satisfy the issuer's obligation to the Fund in the event of non-payment of scheduled interest or principal, and the collateral may not be readily liquidated.
Distressed securities frequently do not produce income while they are outstanding. The Fund may be required to incur certain extraordinary expenses in order to protect and recover its investment. The Fund also will be subject to significant uncertainty as to when and in what manner and for what value the obligations evidenced by the distressed securities will eventually be satisfied.
Use of leverage can result in additional risk and cost, and can magnify the effect of any losses.
The Fund's portfolio is also subject to credit risk, interest rate risk, liquidity risk, prepayment risk and reinvestment risk. Interest rate risk is the risk that fixed-income securities will decline in value because of changes in market interest rates. Credit risk is the risk that an issuer of a security will be unable or unwilling to make dividend, interest and/or principal payments when due and that the value of a security may decline as a result. Credit risk may be heightened for the Fund because it invests in below investment grade securities. Liquidity risk is the risk that the fund may have difficulty disposing of senior loans if it seeks to repay debt, pay dividends or expenses, or take advantage of a new investment opportunity. Prepayment risk is the risk that, upon a prepayment, the actual outstanding debt on which the Fund derives interest income will be reduced. The Fund may not be able to reinvest the proceeds received on terms as favorable as the prepaid loan. Reinvestment risk is the risk that income from the Fund's portfolio will decline if the Fund invests the proceeds from matured, traded or called instruments at market interest rates that are below the Fund's portfolio's current earnings rate.
The risks of investing in the Fund are spelled out in the shareholder reports and other regulatory filings.
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.
The Fund's daily closing New York Stock Exchange price and net asset value per share as well as other information can be found at https://www.ftportfolios.com or by calling 1-800-988-5891.
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Source: First Trust Senior Floating Rate Income Fund II
FAQ
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