First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Short Interest Update

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) saw a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 46,663 shares, a growth of 61.7% from the January 15th total of 28,857 shares. Based on an average trading volume of 114,969 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 114,969 shares, the days-to-cover ratio is currently 0.4 days.

First Trust Senior Floating Rate Income Fund II Price Performance

FCT stock opened at $9.94 on Monday. First Trust Senior Floating Rate Income Fund II has a 12 month low of $8.61 and a 12 month high of $10.47. The firm has a 50 day simple moving average of $9.99 and a 200 day simple moving average of $9.90.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, February 2nd will be issued a $0.097 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 11.7%. The ex-dividend date is Monday, February 2nd.

Hedge Funds Weigh In On First Trust Senior Floating Rate Income Fund II

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in First Trust Senior Floating Rate Income Fund II by 12.4% during the 1st quarter. Royal Bank of Canada now owns 167,829 shares of the investment management company’s stock worth $1,702,000 after buying an additional 18,542 shares during the period. RFG Advisory LLC lifted its position in shares of First Trust Senior Floating Rate Income Fund II by 5.4% in the 2nd quarter. RFG Advisory LLC now owns 33,717 shares of the investment management company’s stock valued at $343,000 after acquiring an additional 1,731 shares in the last quarter. D.A. Davidson & CO. boosted its stake in First Trust Senior Floating Rate Income Fund II by 6.6% in the 2nd quarter. D.A. Davidson & CO. now owns 236,902 shares of the investment management company’s stock worth $2,407,000 after purchasing an additional 14,587 shares during the period. Strategic Financial Concepts LLC grew its position in First Trust Senior Floating Rate Income Fund II by 9.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 42,100 shares of the investment management company’s stock worth $428,000 after purchasing an additional 3,600 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its position in shares of First Trust Senior Floating Rate Income Fund II by 3.0% in the second quarter. Penserra Capital Management LLC now owns 369,896 shares of the investment management company’s stock worth $3,758,000 after buying an additional 10,933 shares during the period.

About First Trust Senior Floating Rate Income Fund II

First Trust Senior Floating Rate Income Fund II (NYSE: FCT) is a diversified, closed-end management investment company that seeks to provide current income with preservation of capital. Listed on the New York Stock Exchange, the fund pursues its objective by investing primarily in senior floating rate loans and other floating rate debt instruments of U.S. and non-U.S. companies. As a closed-end vehicle, FCT issues a fixed number of common shares and may utilize leverage to enhance returns for shareholders.

Under normal market conditions, FCT allocates at least 80% of its managed assets to senior floating rate loans, which are typically secured obligations of corporate borrowers.