Free 7-day Trial
All Articles and Columns »

First Trust Strategic High Income Fund II Declares its Monthly Common Share Distribution of $0.15 Per Share for February

January 20, 2009 | About:
10qk

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Strategic High Income Fund II (the "Fund") (NYSE: FHY) today declared its regularly scheduled monthly distribution of $0.15 per share payable on February 17, 2009 to

Press Release: First Trust Strategic High Income Fund II Declares its Monthly Common Share Distribution of $0.15 Per Share for February

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Strategic High Income Fund II (the "Fund") (NYSE: FHY) today declared its regularly scheduled monthly distribution of $0.15 per share payable on February 17, 2009 to shareholders of record as of February 4, 2009. The ex-dividend date is expected to be February 2, 2009. The monthly distribution and cash balance information for the Fund appears below.
First Trust Strategic High Income Fund II (FHY):
Distribution per share:   $0.15
Distribution Rate based on the January 16, 2009 NAV of $6.65: 27.07%
Distribution Rate based on the January 16, 2009 closing market price of $5.96: 30.20%
Cash Balance on January 16, 2009: $6,431,588 or 10.21% of Net Assets
The majority, and possibly all, of this distribution will be paid out of net investment income earned by the Fund. A portion of this distribution may come from net short-term realized capital gains or return of capital. The final determination of the source and tax status of all distributions paid in 2009 will be made after the end of 2009. The Fund is a diversified, closed-end management investment company that seeks to provide a high level of current income. As a secondary objective, the Fund seeks to provide capital growth. The Fund pursues these investment objectives by investing its managed assets in a diversified portfolio of below-investment grade and investment grade debt securities and equity securities that the investment sub-advisor believes offer attractive yield and/or capital appreciation potential. First Trust Advisors L.P., the Fund’s investment advisor, along with its affiliate First Trust Portfolios L.P., are privately-held companies which provide a variety of investment services, including asset management, financial advisory services, and municipal and corporate investment banking, with collective assets under management or supervision of over $18 billion as of December 31, 2008 through closed-end funds, unit investment trusts, mutual funds, separate managed accounts and exchange-traded funds. Valhalla Capital Partners, LLC, the Fund’s investment sub-advisor (“Valhalla”), is a boutique asset management firm focused on managing high-yield portfolios with an emphasis on structured finance securities. The three managing partners have 56 years combined industry experience and the investment team has an average of over 13 years experience in working with high-yield and structured finance securities. Valhalla managed approximately $160 million in assets as of December 31, 2008. Past performance is no assurance of future results. Investment return and market value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost. Principal Risk Factors: Investment in this Fund involves investment and market risk, management risk, sub-advisor risk, value investing risk, below-investment grade securities risk, fixed-income securities risk, mortgage-backed securities risk, asset-backed securities risk, convertible securities risk, municipal securities risk, non-U.S. securities risk, non-U.S. government securities risk, equity securities risk, currency risk, distressed securities risk, preferred stock risk, inflation/deflation risk, market discount risk, leverage risk, derivatives risk, market disruption risk, portfolio turnover risk, and illiquid/restricted securities risk. The risks of investing in the Fund are spelled out in the prospectus, shareholder report and other regulatory filings. The Fund’s daily closing New York Stock Exchange price and net asset value per share as well as other information can be found at www.ftportfolios.com or by calling 1-800-988-5891.

Source: BusinessWire

Rating: 0.0/5 (0 votes)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK
Email Hide