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 recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 59,300 shares, an increase of 27.0% from the October 15th total of 46,700 shares. Based on an average daily volume of 101,700 shares, the short-interest ratio is presently 0.6 days.

First Trust Senior Floating Rate Income Fund II Stock Performance

NYSE FCT opened at $10.31 on Friday. First Trust Senior Floating Rate Income Fund II has a 1 year low of $9.64 and a 1 year high of $10.93. The company has a fifty day moving average of $10.33 and a 200 day moving average of $10.30.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.097 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.16 annualized dividend and a dividend yield of 11.29%.

Institutional Trading of First Trust Senior Floating Rate Income Fund II

A number of hedge funds have recently modified their holdings of the stock. Oppenheimer & Co. Inc. grew its stake in shares of First Trust Senior Floating Rate Income Fund II by 11.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 17,600 shares of the investment management company’s stock worth $182,000 after purchasing an additional 1,746 shares during the period. City of London Investment Management Co. Ltd. increased its holdings in First Trust Senior Floating Rate Income Fund II by 10.1% in the first quarter. City of London Investment Management Co. Ltd. now owns 407,784 shares of the investment management company’s stock valued at $4,221,000 after buying an additional 37,262 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of First Trust Senior Floating Rate Income Fund II by 12.6% in the first quarter. Advisors Asset Management Inc. now owns 296,725 shares of the investment management company’s stock worth $3,071,000 after acquiring an additional 33,230 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in shares of First Trust Senior Floating Rate Income Fund II by 40.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 39,157 shares of the investment management company’s stock worth $392,000 after acquiring an additional 11,202 shares in the last quarter. Finally, Cetera Advisors LLC acquired a new stake in shares of First Trust Senior Floating Rate Income Fund II during the 1st quarter valued at about $201,000.

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.