FCT - A New Saba Target: First Trust Senior Floating Rate Income Fund II

(This report was published to members of Yield Hunting on May 20. All data is from that date unless otherwise stated.)

First Trust Senior Floating Rate Income II (FCT)

The largest position I own in the floating rate space comes from not one held in the Core Portfolio but one that's a target of activism. We first noted to our members this opportunity as a buy alert for our Flexible Income Portfolio back in September of last year. The basis of that alert was the likely continued increase of the distribution (despite most