FCT: CEF Arbitrage Opportunity Via The Conversion

First Trust Senior Floating Rate Income Fund II has announced board approval to convert the fund into an ETF. This strategic move reflects a shift in structure, potentially enhancing liquidity and investor access. The conversion would remove the large discount to NAV, thus creating capital gains for holders.

Seeking Alpha • Dec 10, 2025

Board of First Trust Senior Floating Rate Income Fund II Approves Conversion into an ETF

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Advisors L.P. (“FTA”) announced today that the Board of Trustees of First Trust Senior Floating Rate Income Fund II (NYSE: FCT), a closed-end fund managed by FTA, approved the reorganization (the “Reorganization”) of FCT into First Trust Flexible Income ETF, a newly created exchange-traded fund (“ETF”) that will be traded on the NYSE and will be an actively managed ETF managed by FTA. Under the terms of the Reorganization, which is expected to be tax‑.

Business Wire • Dec 9, 2025

First Trust Senior Floating Rate Income Fund II Declares its Monthly Common Share Distribution of $0.097 Per Share for December

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT) has declared the Fund's regularly scheduled monthly common share distribution in the amount of $0.097 per share payable on December 15, 2025, to shareholders of record as of December 1, 2025. The ex-dividend date is expected to be December 1, 2025. The monthly distribution information for the Fund appears below. First Trust Senior Floating Rate Income Fund II (FCT): Distribution per share: $.

Business Wire • Nov 20, 2025

First Trust Senior Floating Rate Income Fund II Declares its Monthly Common Share Distribution of $0.097 Per Share for November

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT) has declared the Fund's regularly scheduled monthly common share distribution in the amount of $0.097 per share payable on November 17, 2025, to shareholders of record as of November 3, 2025. The ex-dividend date is expected to be November 3, 2025. The monthly distribution information for the Fund appears below. First Trust Senior Floating Rate Income Fund II (FCT): Distribution per share: $.

Business Wire • Oct 21, 2025

First Trust Senior Floating Rate Income Fund II Declares its Monthly Common Share Distribution of $0.097 Per Share for October

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT) has declared the Fund's regularly scheduled monthly common share distribution in the amount of $0.097 per share payable on October 15, 2025, to shareholders of record as of October 1, 2025. The ex-dividend date is expected to be October 1, 2025. The monthly distribution information for the Fund appears below. First Trust Senior Floating Rate Income Fund II (FCT):   Distribution per share: $0.

Business Wire • Sep 18, 2025

FCT: Lower Interest Rates May Increase Appeal

FCT offers a high 11.6% yield and monthly distributions, appealing to income investors, but with notable sustainability concerns in a falling rate environment. The fund's discount to NAV is near decade lows, limiting valuation upside even if interest rates decline as anticipated. FCT relies heavily on below-investment-grade loans and leverage, increasing the risk of defaults and NAV deterioration during market downturns.

Seeking Alpha • Sep 11, 2025

First Trust Senior Floating Rate Income Fund II Declares its Monthly Common Share Distribution of $0.097 Per Share for September

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT) has declared the Fund's regularly scheduled monthly common share distribution in the amount of $0.097 per share payable on September 15, 2025, to shareholders of record as of September 2, 2025. The ex-dividend date is expected to be September 2, 2025. The monthly distribution information for the Fund appears below. First Trust Senior Floating Rate Income Fund II (FCT): Distribution per share.

Business Wire • Aug 20, 2025

First Trust Senior Floating Rate Income Fund II Declares its Monthly Common Share Distribution of $0.097 Per Share for August

WHEATON, Ill--(BUSINESS WIRE)--First Trust Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT) has declared the Fund's regularly scheduled monthly common share distribution in the amount of $0.097 per share payable on August 15, 2025, to shareholders of record as of August 1, 2025. The ex-dividend date is expected to be August 1, 2025. The monthly distribution information for the Fund appears below. First Trust Senior Floating Rate Income Fund II (FCT): Distribution per share: $0.097 D.

Business Wire • Jul 21, 2025

FCT: NAV Destruction Is A Big Problem As This Fund Tries To Sustain Its Distribution

First Trust Senior Floating Rate Income Fund II offers an attractive 11.68% yield, but that yield is unsustainable as the fund fails to cover distributions after recent Fed rate cuts. The FCT fund's net asset value is declining, indicating distributions are being paid from capital, not income, and a distribution cut is likely imminent. Peer funds have already cut distributions and suffered share price declines; FCT investors risk both income reduction and capital loss if they buy now.

Seeking Alpha • Jun 24, 2025

First Trust Senior Floating Rate Income Fund II Declares its Monthly Common Share Distribution of $0.097 Per Share for July

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT) has declared the Fund's regularly scheduled monthly common share distribution in the amount of $0.097 per share payable on July 15, 2025, to shareholders of record as of July 1, 2025. The ex-dividend date is expected to be July 1, 2025. The monthly distribution information for the Fund appears below. First Trust Senior Floating Rate Income Fund II (FCT):     Distribution per share:   $0.097.

Business Wire • Jun 18, 2025