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 significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 173,000 shares, a growth of 623.8% from the July 15th total of 23,900 shares. Based on an average trading volume of 174,900 shares, the short-interest ratio is currently 1.0 days.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in FCT. Strategic Financial Concepts LLC raised its position in shares of First Trust Senior Floating Rate Income Fund II by 1,095.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 265,472 shares of the investment management company’s stock worth $26,000 after purchasing an additional 243,272 shares during the last quarter. GraniteShares Advisors LLC purchased a new position in shares of First Trust Senior Floating Rate Income Fund II in the 4th quarter worth about $1,507,000. Relative Value Partners Group LLC increased its holdings in First Trust Senior Floating Rate Income Fund II by 33.5% in the 4th quarter. Relative Value Partners Group LLC now owns 560,545 shares of the investment management company’s stock worth $5,656,000 after buying an additional 140,539 shares in the last quarter. Jones Road Capital Management L.P. increased its holdings in First Trust Senior Floating Rate Income Fund II by 57.5% in the 4th quarter. Jones Road Capital Management L.P. now owns 370,054 shares of the investment management company’s stock worth $3,734,000 after buying an additional 135,054 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in First Trust Senior Floating Rate Income Fund II in the 4th quarter worth about $9,339,000.

First Trust Senior Floating Rate Income Fund II Stock Performance

NYSE:FCT traded down $0.02 during trading hours on Monday, hitting $10.28. The company had a trading volume of 100,192 shares, compared to its average volume of 136,615. The stock has a 50-day moving average price of $10.20 and a 200 day moving average price of $10.22. First Trust Senior Floating Rate Income Fund II has a 52 week low of $9.51 and a 52 week high of $10.59.

First Trust Senior Floating Rate Income Fund II Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be given a dividend of $0.097 per share. This represents a $1.16 annualized dividend and a yield of 11.32%. The ex-dividend date of this dividend is Thursday, August 1st.

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.