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

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) was the target of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 137,151 shares, a growth of 198.1% from the February 12th total of 46,012 shares. Based on an average daily volume of 97,973 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily volume of 97,973 shares, the days-to-cover ratio is currently 1.4 days.

First Trust Senior Floating Rate Income Fund II Stock Performance

Shares of FCT traded up $0.03 during trading hours on Wednesday, hitting $9.73. The stock had a trading volume of 92,752 shares, compared to its average volume of 111,695. The firm has a 50-day moving average price of $9.95 and a 200 day moving average price of $9.87. First Trust Senior Floating Rate Income Fund II has a fifty-two week low of $8.61 and a fifty-two week high of $10.30.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a $0.097 dividend. This represents a c) annualized dividend and a yield of 12.0%. The ex-dividend date of this dividend is Monday, March 2nd.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FCT. Global Retirement Partners LLC raised its position in First Trust Senior Floating Rate Income Fund II by 181.9% in the 4th quarter. Global Retirement Partners LLC now owns 9,955 shares of the investment management company’s stock valued at $100,000 after purchasing an additional 6,424 shares in the last quarter. Alteri Wealth LLC acquired a new position in First Trust Senior Floating Rate Income Fund II during the 3rd quarter worth approximately $104,000. XTX Topco Ltd acquired a new stake in shares of First Trust Senior Floating Rate Income Fund II in the 4th quarter valued at $107,000. Tactive Advisors LLC purchased a new stake in shares of First Trust Senior Floating Rate Income Fund II during the 2nd quarter worth $114,000. Finally, Jane Street Group LLC acquired a new position in shares of First Trust Senior Floating Rate Income Fund II during the second quarter worth $144,000.

First Trust Senior Floating Rate Income Fund II Company Profile

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.