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) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 235,592 shares, a growth of 73.0% from the March 15th total of 136,190 shares. Based on an average daily volume of 83,597 shares, the days-to-cover ratio is currently 2.8 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC lifted its position in shares of First Trust Senior Floating Rate Income Fund II by 181.9% during the 4th quarter. Global Retirement Partners LLC now owns 9,955 shares of the investment management company’s stock valued at $100,000 after buying 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 during the 3rd quarter valued at approximately $104,000. XTX Topco Ltd purchased a new position in shares of First Trust Senior Floating Rate Income Fund II during the 4th quarter valued at approximately $107,000. Tactive Advisors LLC purchased a new position in shares of First Trust Senior Floating Rate Income Fund II during the 2nd quarter valued at approximately $114,000. Finally, Jane Street Group LLC purchased a new position in shares of First Trust Senior Floating Rate Income Fund II during the 2nd quarter valued at approximately $144,000.

First Trust Senior Floating Rate Income Fund II Price Performance

Shares of NYSE FCT traded up $0.02 during midday trading on Monday, reaching $9.64. 13,860 shares of the stock were exchanged, compared to its average volume of 99,510. First Trust Senior Floating Rate Income Fund II has a twelve month low of $9.40 and a twelve month high of $10.29. The firm has a 50-day simple moving average of $9.77 and a two-hundred day simple moving average of $9.80.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be given a dividend of $0.097 per share. The ex-dividend date is Wednesday, April 1st. This represents a c) dividend on an annualized basis and a dividend yield of 12.1%.

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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