First Trust Strategic High Income Fund II (NYSE:FHY) has decreased its regularly scheduled monthly common distribution from $0.045 per share to $0.035 per share. The distribution is payable on March 15, 2010. The record date is March 3, 2010. The ex dividend date will be March 1, 2010. The distribution decrease is due to the reduction of income from structured securities within the Fund’s portfolio. The distribution will be paid out of net investment income earned by the Fund. Part of the distribution may come from net short-term realized capital gains or return of capital.
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First Trust Strategic High Income Fund II (the Fund) is a diversified, closed-end management investment company. The Fund's primary investment objective is to seek a high-level of current income. The Fund seeks capital growth as a secondary objective. The Fund invests in a diversified portfolio of below-investment-grade and investment-grade debt securities, and equity securities. The Fund invests a significant portion of its assets in below-investment-grade debt securities, including mortgage-backed securities, asset-backed securities, corporate bonds and collateralized debt obligations. It invests in restricted securities. The Fund’s investment advisor is First Trust Advisors L.P.
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