FCT

First Trust Senior Floating Rate Income Fund II

A closed-end investment fund that pooled money from everyday investors to buy senior secured floating-rate corporate loans — loans that pay interest that adjusts as market rates move. Managed by First Trust Advisors and traded on the New York Stock Exchange as FCT, its descriptive name spells out exactly what it did: "II" marked it as the firm's second fund with this loan-focused mandate. Organized as a Massachusetts business trust in 2004, it later merged into the First Trust Flexible Income ETF, carrying its loan portfolio along in the move.

Closed-end fund providing current income through senior floating rate loans