First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Sees Significant Increase in Short Interest

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 59,300 shares, a growth of 27.0% from the October 15th total of 46,700 shares. Based on an average daily volume of 101,700 shares, the short-interest ratio is presently 0.6 days.

First Trust Senior Floating Rate Income Fund II Trading Down 0.1 %

First Trust Senior Floating Rate Income Fund II stock opened at $10.31 on Friday. First Trust Senior Floating Rate Income Fund II has a 52-week low of $9.64 and a 52-week high of $10.93. The company’s 50 day moving average is $10.33 and its two-hundred day moving average is $10.30.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.097 dividend. This represents a $1.16 annualized dividend and a dividend yield of 11.29%. The ex-dividend date of this dividend was Friday, November 1st.

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

Several large investors have recently bought and sold shares of FCT. Strategic Financial Concepts LLC grew its holdings in First Trust Senior Floating Rate Income Fund II by 1,095.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 265,472 shares of the investment management company’s stock worth $26,000 after acquiring an additional 243,272 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of First Trust Senior Floating Rate Income Fund II by 647.8% during the 3rd quarter. Avior Wealth Management LLC now owns 6,349 shares of the investment management company’s stock worth $66,000 after purchasing an additional 5,500 shares during the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of First Trust Senior Floating Rate Income Fund II during the 2nd quarter worth $79,000. Concurrent Investment Advisors LLC grew its stake in shares of First Trust Senior Floating Rate Income Fund II by 11.5% during the second 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 in the last quarter. Finally, SeaCrest Wealth Management LLC increased its holdings in First Trust Senior Floating Rate Income Fund II by 11.1% in the third quarter. SeaCrest Wealth Management LLC now owns 15,483 shares of the investment management company’s stock valued at $160,000 after buying an additional 1,542 shares during the last quarter.

About First Trust Senior Floating Rate Income Fund II

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.