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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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