Short Interest in First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Expands By 6.3%

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 145,300 shares, an increase of 6.3% from the August 15th total of 136,700 shares. Based on an average daily trading volume, of 170,700 shares, the days-to-cover ratio is presently 0.9 days.

First Trust Senior Floating Rate Income Fund II Stock Performance

First Trust Senior Floating Rate Income Fund II stock traded up $0.02 during trading hours on Thursday, reaching $10.36. 32,367 shares of the company’s stock were exchanged, compared to its average volume of 129,405. The firm’s 50 day simple moving average is $10.28 and its 200 day simple moving average is $10.27. First Trust Senior Floating Rate Income Fund II has a twelve month low of $9.51 and a twelve month high of $10.93.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a $0.097 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.16 dividend on an annualized basis and a yield of 11.24%.

Hedge Funds Weigh In On First Trust Senior Floating Rate Income Fund II

Institutional investors have recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC increased its stake in shares of First Trust Senior Floating Rate Income Fund II by 1,095.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 265,472 shares of the investment management company’s stock valued at $26,000 after acquiring an additional 243,272 shares in the last quarter. Relative Value Partners Group LLC increased its stake in First Trust Senior Floating Rate Income Fund II by 33.5% in the fourth quarter. Relative Value Partners Group LLC now owns 560,545 shares of the investment management company’s stock valued at $5,656,000 after purchasing an additional 140,539 shares in the last quarter. Jones Road Capital Management L.P. raised its holdings in shares of First Trust Senior Floating Rate Income Fund II by 57.5% during the fourth quarter. Jones Road Capital Management L.P. now owns 370,054 shares of the investment management company’s stock valued at $3,734,000 after purchasing an additional 135,054 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of First Trust Senior Floating Rate Income Fund II by 43.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 260,297 shares of the investment management company’s stock worth $2,694,000 after purchasing an additional 78,802 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of First Trust Senior Floating Rate Income Fund II in the 2nd quarter valued at about $523,000.

First Trust Senior Floating Rate Income Fund II Company Profile

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.