First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Sees Significant Growth in Short Interest

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 42,200 shares, an increase of 135.8% from the June 15th total of 17,900 shares. Based on an average daily volume of 134,100 shares, the short-interest ratio is currently 0.3 days.

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

A number of institutional investors have recently bought and sold shares of FCT. B. Riley Wealth Advisors Inc. boosted its holdings in shares of First Trust Senior Floating Rate Income Fund II by 12.0% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 39,157 shares of the investment management company’s stock valued at $392,000 after purchasing an additional 4,196 shares during the last quarter. Raymond James & Associates lifted its stake in shares of First Trust Senior Floating Rate Income Fund II by 21.3% in the 4th quarter. Raymond James & Associates now owns 12,401 shares of the investment management company’s stock valued at $125,000 after purchasing an additional 2,175 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in shares of First Trust Senior Floating Rate Income Fund II during the 4th quarter worth about $218,000. SeaCrest Wealth Management LLC acquired a new stake in First Trust Senior Floating Rate Income Fund II during the 4th quarter worth approximately $104,000. Finally, Realta Investment Advisors raised its holdings in First Trust Senior Floating Rate Income Fund II by 21.2% in the fourth quarter. Realta Investment Advisors now owns 14,414 shares of the investment management company’s stock valued at $145,000 after buying an additional 2,519 shares during the period.

First Trust Senior Floating Rate Income Fund II Price Performance

Shares of NYSE:FCT opened at $10.19 on Friday. The stock’s 50-day moving average price is $10.29 and its two-hundred day moving average price is $10.16. First Trust Senior Floating Rate Income Fund II has a 12-month low of $9.51 and a 12-month high of $10.59.

First Trust Senior Floating Rate Income Fund II Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a $0.097 dividend. The ex-dividend date is Monday, July 1st. This represents a $1.16 annualized dividend and a dividend yield of 11.42%.

About First Trust Senior Floating Rate Income Fund II

First Trust Senior Floating Rate Income Fund II is a closed-ended fixed income mutual fund launched and managed by First Trust Advisors L.P. The fund invests in the fixed income markets of the United States. It seeks to invest in a portfolio of senior secured floating rate corporate loans. The fund benchmarks the performance of its portfolio against the S&P/LSTA Leveraged Loan Index.