First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Short Interest Down 86.7% in July

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totaling 19,096 shares, a drop of 86.7% from the July 15th total of 143,827 shares. Based on an average trading volume of 184,492 shares, the short-interest ratio is presently 0.1 days.

Institutional Trading of First Trust Senior Floating Rate Income Fund II

A number of institutional investors have recently added to or reduced their stakes in the business. CoreCap Advisors LLC raised its holdings in shares of First Trust Senior Floating Rate Income Fund II by 97.6% during the 2nd quarter. CoreCap Advisors LLC now owns 3,441 shares of the investment management company’s stock valued at $33,000 after purchasing an additional 1,700 shares in the last quarter. Global Retirement Partners LLC increased its position in First Trust Senior Floating Rate Income Fund II by 181.9% during the fourth quarter. Global Retirement Partners LLC now owns 9,955 shares of the investment management company’s stock worth $100,000 after buying an additional 6,424 shares during the last quarter. XTX Topco Ltd bought a new position in First Trust Senior Floating Rate Income Fund II during the fourth quarter valued at about $107,000. Jane Street Group LLC bought a new position in First Trust Senior Floating Rate Income Fund II during the second quarter valued at about $144,000. Finally, Seven Mile Advisory acquired a new stake in shares of First Trust Senior Floating Rate Income Fund II in the third quarter worth about $176,000.

First Trust Senior Floating Rate Income Fund II Stock Performance

NYSE FCT traded down $0.00 on Friday, reaching $9.67. The stock had a trading volume of 1,136,436 shares, compared to its average volume of 114,049. The business has a 50 day moving average price of $9.62 and a 200 day moving average price of $9.72. First Trust Senior Floating Rate Income Fund II has a 1 year low of $9.40 and a 1 year high of $10.24.

First Trust Senior Floating Rate Income Fund II Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a $0.0813 dividend. The ex-dividend date was Wednesday, July 1st. This represents a c) dividend on an annualized basis and a yield of 10.1%.

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.