Short Interest in First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Increases By 135.8%

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) was the target of a significant increase in short interest in 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 trading volume, of 134,100 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. GraniteShares Advisors LLC bought a new position in First Trust Senior Floating Rate Income Fund II during the fourth quarter worth about $1,507,000. CWM LLC bought a new position in shares of First Trust Senior Floating Rate Income Fund II during the 4th quarter worth approximately $186,000. Realta Investment Advisors boosted its stake in First Trust Senior Floating Rate Income Fund II by 21.2% in the 4th 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 in the last quarter. Shaker Financial Services LLC grew its position in First Trust Senior Floating Rate Income Fund II by 8.1% in the fourth quarter. Shaker Financial Services LLC now owns 26,675 shares of the investment management company’s stock valued at $269,000 after acquiring an additional 1,999 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in First Trust Senior Floating Rate Income Fund II during the fourth quarter worth $9,339,000.

First Trust Senior Floating Rate Income Fund II Stock Up 0.9 %

First Trust Senior Floating Rate Income Fund II stock opened at $10.22 on Friday. The business has a 50 day moving average price of $10.29 and a two-hundred day moving average price of $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 company also recently announced a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid a $0.097 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 11.39%.

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.