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AI Analysis of FCT
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First Trust Senior Floating Rate Income stock price up 0.388% on Wednesday
(Updated on Mar 27, 2024)

Buy or Hold candidate since Feb 12, 2024 Gain 3.09% PDF

The First Trust Senior Floating Rate Income stock price gained 0.388% on the last trading day (Wednesday, 27th Mar 2024), rising from $10.30 to $10.34. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.484% from a day low at $10.33 to a day high of $10.38. The price has risen in 6 of the last 10 days and is up by 1.57% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 63 thousand shares were bought and sold for approximately $648.64 thousand.

The stock lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.05% during the next 3 months and, with a 90% probability hold a price between $10.66 and $10.94 at the end of this 3-month period.

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FCT Signals & Forecast

The First Trust Senior Floating Rate Income stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $10.32 and $10.14. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). First Trust Senior Floating Rate Income has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -0.289%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Tuesday, January 23, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Buy
Special Signal Notification

Golden Star

The stock had a Golden Star Signal on Tuesday, January 23, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for First Trust Senior Floating Rate Income stock

First Trust Senior Floating Rate Income finds support from accumulated volume at $10.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0500 between high and low, or 0.484%. For the last week the stock has had daily average volatility of 0.758%.

Our recommended stop-loss: $9.96 (-3.69%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (FCT) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect First Trust Senior Floating Rate Income Fund II to open at $10.35, and during the day (based on 14 day Average True Range), to move between $10.26 and $10.42, which gives a possible trading interval of +/-$0.0834 (+/-0.81%) up or down from last closing price. If First Trust Senior Floating Rate Income Fund II takes out the full calculated possible swing range there will be an estimated 1.61% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $10.37 (0.29%) than the support at $10.13 (2.03%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is First Trust Senior Floating Rate Income Fund II stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for First Trust Senior Floating Rate Income stock to perform well in the short-term.

Current score: 1.867 Buy Candidate Unchanged

Predicted Opening Price for First Trust Senior Floating Rate Income Fund II of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$10.35 ( 0.0967%) $10.34

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for FCT

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 10.40 0.580 %
R2 10.38 0.396 %
R1 10.37 0.281 %
Current price: 10.34
Support S1 10.33 -0.0880 %
S2 10.32 -0.202 %
S3 10.30 -0.387 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 10.37 0.290 %
Current price 10.34
Support S1 10.13 -2.03%
S2 10.09 -2.42%
S3 9.85 -4.74%

FCT Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Apr 01, 2024 Apr 01, 2024 Apr 15, 2024 $0.0970 0.94%
2 Feb 20, 2024 Mar 01, 2024 Mar 15, 2024 $0.0970 0.96%
3 Jan 22, 2024 Feb 01, 2024 Feb 15, 2024 $0.0970 0.96%
4 Dec 20, 2023 Jan 02, 2024 Jan 16, 2024 $0.0970 0.99%
5 Nov 20, 2023 Dec 01, 2023 Dec 15, 2023 $0.0970 0.97%

FAQ

What is the symbol for First Trust Senior Floating Rate Income Fund II Stock and on which exchange is it traded?
The symbol for First Trust Senior Floating Rate Income Fund II is FCT and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell First Trust Senior Floating Rate Income Fund II Stock?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for First Trust Senior Floating Rate Income stock to perform well in the short-term.

How to buy First Trust Senior Floating Rate Income Fund II Stock?
First Trust Senior Floating Rate Income Fund II Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy First Trust Senior Floating Rate Income Fund II Stock.

What's the current price of First Trust Senior Floating Rate Income Fund II Stock?
As of the end of day on the 2024-03-27, the price of an First Trust Senior Floating Rate Income Fund II (FCT) share was $10.34.

What is the 52-week high and low for First Trust Senior Floating Rate Income Fund II Stock?
The 52-week high for First Trust Senior Floating Rate Income Fund II Stock is $10.42 and the 52-week low is $9.45.

What is the market capitalization of First Trust Senior Floating Rate Income Fund II Stock?
As of the 2024-03-27, the market capitalization of First Trust Senior Floating Rate Income Fund II is 267.629M.
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About First Trust Senior Floating Rate Income Fund II

First Trust Senior Floating Rate Income Fund II is a closed-ended fixed income mutual fund launched and managed by First Trust Advisors L.P. The fund invests in the fixed income markets of the United States. It seeks to invest in a portfolio of senior secured floating rate corporate loans. The fund benchmarks the performance of its portfolio against the S&P/LSTA Leveraged Loan Index. It was formerly known as First Trust/Four Corners Senior Floati... FCT Profile

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