First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Short Interest Up 73.0% in March
by Teresa Graham · The Cerbat GemFirst Trust Senior Floating Rate Income Fund II (NYSE:FCT – Get Free Report) saw a large increase in short interest in March. As of March 31st, there was short interest totaling 235,592 shares, an increase of 73.0% from the March 15th total of 136,190 shares. Based on an average daily trading volume, of 83,597 shares, the days-to-cover ratio is currently 2.8 days.
Hedge Funds Weigh In On First Trust Senior Floating Rate Income Fund II
Several large investors have recently modified their holdings of the business. Global Retirement Partners LLC grew 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 in the last quarter. Alteri Wealth LLC purchased a new position in shares of First Trust Senior Floating Rate Income Fund II in the 3rd quarter valued at about $104,000. XTX Topco Ltd acquired a new stake in shares of First Trust Senior Floating Rate Income Fund II during the 4th quarter worth about $107,000. Tactive Advisors LLC purchased a new stake in First Trust Senior Floating Rate Income Fund II during the second quarter worth approximately $114,000. Finally, Jane Street Group LLC acquired a new position in First Trust Senior Floating Rate Income Fund II in the second quarter valued at approximately $144,000.
First Trust Senior Floating Rate Income Fund II Stock Up 0.2%
Shares of NYSE FCT traded up $0.02 during trading on Wednesday, hitting $9.71. 34,518 shares of the company were exchanged, compared to its average volume of 99,772. First Trust Senior Floating Rate Income Fund II has a 12-month low of $9.40 and a 12-month high of $10.29. The company has a fifty day moving average price of $9.75 and a 200-day moving average price of $9.80.
First Trust Senior Floating Rate Income Fund II Announces Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be given a $0.097 dividend. This represents a c) annualized dividend and a yield of 12.0%. The ex-dividend date is Wednesday, April 1st.
About First Trust Senior Floating Rate Income Fund II
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.