First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Short Interest Down 47.0% in March

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) saw a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 61,700 shares, a decrease of 47.0% from the February 28th total of 116,500 shares. Based on an average trading volume of 110,300 shares, the short-interest ratio is presently 0.6 days.

First Trust Senior Floating Rate Income Fund II Price Performance

FCT traded down $0.01 during trading on Friday, hitting $10.17. The stock had a trading volume of 71,945 shares, compared to its average volume of 126,469. The stock has a 50 day simple moving average of $10.32 and a two-hundred day simple moving average of $10.34. First Trust Senior Floating Rate Income Fund II has a twelve month low of $9.76 and a twelve month high of $10.93.

First Trust Senior Floating Rate Income Fund II Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.097 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 11.45%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FCT. Kovitz Investment Group Partners LLC acquired a new position in shares of First Trust Senior Floating Rate Income Fund II during the third quarter valued at about $3,636,000. SeaCrest Wealth Management LLC grew its position in First Trust Senior Floating Rate Income Fund II by 10.8% during the 4th quarter. SeaCrest Wealth Management LLC now owns 17,152 shares of the investment management company’s stock worth $178,000 after purchasing an additional 1,669 shares during the last quarter. Moss Adams Wealth Advisors LLC purchased a new stake in First Trust Senior Floating Rate Income Fund II during the 4th quarter worth approximately $171,000. Avior Wealth Management LLC increased its stake in First Trust Senior Floating Rate Income Fund II by 22.1% during the 4th quarter. Avior Wealth Management LLC now owns 7,749 shares of the investment management company’s stock valued at $80,000 after purchasing an additional 1,400 shares in the last quarter. Finally, RFG Advisory LLC raised its holdings in shares of First Trust Senior Floating Rate Income Fund II by 22.6% in the fourth quarter. RFG Advisory LLC now owns 26,296 shares of the investment management company’s stock worth $272,000 after buying an additional 4,842 shares during the last quarter.

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.