First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Short Interest Update

by · The Markets Daily

First Trust Senior Floating Rate Income Fund II (NYSE:FCT – Get Free Report) saw a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 49,124 shares, a drop of 34.7% from the November 30th total of 75,267 shares. Based on an average daily volume of 232,788 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 232,788 shares, the days-to-cover ratio is presently 0.2 days.

First Trust Senior Floating Rate Income Fund II Price Performance

Shares of FCT traded down $0.03 on Monday, hitting $10.06. The company’s stock had a trading volume of 297,516 shares, compared to its average volume of 126,768. The firm’s fifty day moving average price is $9.70 and its 200-day moving average price is $9.92. First Trust Senior Floating Rate Income Fund II has a fifty-two week low of $8.61 and a fifty-two week high of $10.50.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be issued a $0.097 dividend. This represents a c) annualized dividend and a dividend yield of 11.6%. The ex-dividend date is Friday, January 2nd.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC boosted its stake in First Trust Senior Floating Rate Income Fund II by 93.2% in the 3rd quarter. Penserra Capital Management LLC now owns 714,654 shares of the investment management company’s stock worth $7,146,000 after purchasing an additional 344,758 shares during the period. Invesco Ltd. lifted its holdings in shares of First Trust Senior Floating Rate Income Fund II by 36.6% in the second quarter. Invesco Ltd. now owns 512,105 shares of the investment management company’s stock valued at $5,203,000 after purchasing an additional 137,308 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of First Trust Senior Floating Rate Income Fund II by 43.1% in the third quarter. Ameriprise Financial Inc. now owns 268,985 shares of the investment management company’s stock valued at $2,692,000 after purchasing an additional 80,984 shares in the last quarter. RFG Advisory LLC boosted its position in shares of First Trust Senior Floating Rate Income Fund II by 192.3% during the third quarter. RFG Advisory LLC now owns 98,558 shares of the investment management company’s stock worth $986,000 after buying an additional 64,841 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of First Trust Senior Floating Rate Income Fund II by 11.0% during the first quarter. Advisors Asset Management Inc. now owns 626,785 shares of the investment management company’s stock worth $6,356,000 after buying an additional 61,938 shares during the period.

About First Trust Senior Floating Rate Income Fund II

(Get Free Report)

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.

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