Short Interest in First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Rises By 198.1%

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) was the target of a large growth in short interest during 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 trading volume, of 97,973 shares, the days-to-cover ratio is presently 1.4 days. Based on an average daily trading volume, of 97,973 shares, the days-to-cover ratio is presently 1.4 days.

First Trust Senior Floating Rate Income Fund II Price Performance

NYSE:FCT traded up $0.03 during midday trading on Wednesday, hitting $9.73. 92,752 shares of the company were exchanged, compared to its average volume of 111,695. 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. The company has a fifty day simple moving average of $9.95 and a 200 day simple moving average of $9.87.

First Trust Senior Floating Rate Income Fund II Announces Dividend

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

Institutional Trading of First Trust Senior Floating Rate Income Fund II

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC increased its holdings 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 valued at $100,000 after purchasing an additional 6,424 shares during the period. Alteri Wealth LLC purchased a new position in First Trust Senior Floating Rate Income Fund II in the 3rd quarter valued at $104,000. XTX Topco Ltd acquired a new position in First Trust Senior Floating Rate Income Fund II in the 4th quarter valued at $107,000. Tactive Advisors LLC purchased a new position in First Trust Senior Floating Rate Income Fund II during the 2nd quarter worth $114,000. Finally, Jane Street Group LLC purchased a new stake in shares of First Trust Senior Floating Rate Income Fund II in the second quarter valued at about $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.