First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Short Interest Up 6.3% in August

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 145,300 shares, an increase of 6.3% from the August 15th total of 136,700 shares. Based on an average daily trading volume, of 170,700 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Investors Weigh In On First Trust Senior Floating Rate Income Fund II

Several hedge funds have recently modified their holdings of FCT. Jones Financial Companies Lllp purchased a new position in shares of First Trust Senior Floating Rate Income Fund II during the fourth quarter valued at approximately $27,000. Wolverine Asset Management LLC acquired a new position in First Trust Senior Floating Rate Income Fund II in the 2nd quarter valued at $79,000. Concurrent Investment Advisors LLC lifted its stake in shares of First Trust Senior Floating Rate Income Fund II by 11.5% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 11,150 shares of the investment management company’s stock worth $112,000 after purchasing an additional 1,150 shares during the period. RFG Advisory LLC acquired a new stake in shares of First Trust Senior Floating Rate Income Fund II during the first quarter worth $130,000. Finally, SeaCrest Wealth Management LLC grew its position in shares of First Trust Senior Floating Rate Income Fund II by 29.3% in the first quarter. SeaCrest Wealth Management LLC now owns 13,805 shares of the investment management company’s stock valued at $143,000 after purchasing an additional 3,130 shares during the period.

First Trust Senior Floating Rate Income Fund II Stock Performance

FCT traded down $0.05 during midday trading on Tuesday, reaching $10.35. 92,213 shares of the company’s stock were exchanged, compared to its average volume of 130,230. The business’s 50-day moving average price is $10.27 and its 200 day moving average price is $10.27. First Trust Senior Floating Rate Income Fund II has a 1-year low of $9.51 and a 1-year high of $10.93.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a $0.097 dividend. This represents a $1.16 annualized dividend and a yield of 11.25%. The ex-dividend date of this dividend was Tuesday, September 3rd.

First Trust Senior Floating Rate Income Fund II Company Profile

First Trust Senior Floating Rate Income Fund II is a closed-ended fixed income mutual fund launched and managed by First Trust Advisors L.P. The fund invests in the fixed income markets of the United States. It seeks to invest in a portfolio of senior secured floating rate corporate loans. The fund benchmarks the performance of its portfolio against the S&P/LSTA Leveraged Loan Index.