First Trust Senior Floating Rate Income Fund II

FCT

Market cap $257M

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 March 16, 2026, to shareholders of record as of March 2, 2026. The ex-dividend date is expected to be March 2, 2026. The monthly distribution information for the Fund appears below. First Trust Senior Floating Rate Income Fund II (FCT):               Distribution per sha.

First Trust Senior Floating Rate Income Fund II remains a hold due to limited earnings growth and unattractive price-to-NAV valuation. FCT's 11.7% yield is at risk as net investment income fails to cover distributions, especially with declining interest rates. The fund's reliance on net realized gains to support payouts introduces volatility and threatens dividend sustainability.

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 February 17, 2026, to shareholders of record as of February 2, 2026. The ex-dividend date is expected to be February 2, 2026. The monthly distribution information for the Fund appears below. First Trust Senior Floating Rate Income Fund II (FCT): Distribution per share: $.

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 January 15, 2026, to shareholders of record as of January 2, 2026. The ex-dividend date is expected to be January 2, 2026. The monthly distribution information for the Fund appears below. First Trust Senior Floating Rate Income Fund II (FCT): Distribution per share: $0.0.

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.

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‑.

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: $.

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: $.

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.

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.