Short Interest in First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Grows By 24.5%

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) saw a significant increase in short interest in December. As of December 15th, there was short interest totalling 42,700 shares, an increase of 24.5% from the November 30th total of 34,300 shares. Based on an average trading volume of 112,100 shares, the days-to-cover ratio is currently 0.4 days.

First Trust Senior Floating Rate Income Fund II Price Performance

FCT traded down $0.11 during midday trading on Tuesday, hitting $10.36. 60,838 shares of the company traded hands, compared to its average volume of 124,239. The company’s 50-day moving average is $10.36 and its 200 day moving average is $10.30. First Trust Senior Floating Rate Income Fund II has a 52 week low of $9.70 and a 52 week high of $10.93.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.097 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 11.24%.

Insider Activity at First Trust Senior Floating Rate Income Fund II

In other First Trust Senior Floating Rate Income Fund II news, insider James A. Bowen sold 3,955 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $10.41, for a total value of $41,171.55. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FCT. Strategic Financial Concepts LLC raised its holdings in shares of First Trust Senior Floating Rate Income Fund II by 1,095.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 265,472 shares of the investment management company’s stock worth $26,000 after acquiring an additional 243,272 shares in the last quarter. Avior Wealth Management LLC grew its stake in First Trust Senior Floating Rate Income Fund II by 647.8% in the third quarter. Avior Wealth Management LLC now owns 6,349 shares of the investment management company’s stock worth $66,000 after purchasing an additional 5,500 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in shares of First Trust Senior Floating Rate Income Fund II during the second quarter valued at $79,000. Concurrent Investment Advisors LLC raised its holdings in shares of First Trust Senior Floating Rate Income Fund II by 11.5% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 11,150 shares of the investment management company’s stock valued at $112,000 after purchasing an additional 1,150 shares in the last quarter. Finally, SeaCrest Wealth Management LLC raised its stake in First Trust Senior Floating Rate Income Fund II by 11.1% in the third quarter. SeaCrest Wealth Management LLC now owns 15,483 shares of the investment management company’s stock worth $160,000 after buying an additional 1,542 shares in 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.