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 increase in short interest in January. As of January 30th, there was short interest totaling 46,663 shares, an increase 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 Stock Performance

Shares of FCT stock traded up $0.03 on Friday, reaching $9.94. 64,601 shares of the company’s stock traded hands, compared to its average volume of 108,343. 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 business’s 50 day moving average price is $9.99 and its two-hundred day moving average price is $9.90.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

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

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

A number of institutional investors have recently modified their holdings of FCT. Global Retirement Partners LLC increased its stake in shares of First Trust Senior Floating Rate Income Fund II by 181.9% in the fourth quarter. Global Retirement Partners LLC now owns 9,955 shares of the investment management company’s stock worth $100,000 after acquiring an additional 6,424 shares during the last quarter. Alteri Wealth LLC acquired a new position in First Trust Senior Floating Rate Income Fund II in the 3rd quarter worth about $104,000. Tactive Advisors LLC acquired a new position in First Trust Senior Floating Rate Income Fund II in the second quarter worth approximately $114,000. Jane Street Group LLC acquired a new position in First Trust Senior Floating Rate Income Fund II in the second quarter worth approximately $144,000. Finally, Seven Mile Advisory bought a new position in First Trust Senior Floating Rate Income Fund II during the third quarter valued at approximately $176,000.

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.