First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Short Interest Up 27.0% in October

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 59,300 shares, a growth of 27.0% from the October 15th total of 46,700 shares. Based on an average daily volume of 101,700 shares, the days-to-cover ratio is presently 0.6 days.

First Trust Senior Floating Rate Income Fund II Trading Up 0.7 %

Shares of FCT stock traded up $0.07 during mid-day trading on Friday, reaching $10.39. The company’s stock had a trading volume of 63,916 shares, compared to its average volume of 125,793. The firm’s 50-day moving average is $10.33 and its two-hundred day moving average is $10.30. First Trust Senior Floating Rate Income Fund II has a 1-year low of $9.64 and a 1-year high of $10.93.

First Trust Senior Floating Rate Income Fund II Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.097 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.16 annualized dividend and a dividend yield of 11.20%.

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

Several institutional investors have recently modified their holdings of the stock. Penserra Capital Management LLC acquired a new position in shares of First Trust Senior Floating Rate Income Fund II during the third quarter worth about $7,637,000. Pathstone Holdings LLC lifted its position in shares of First Trust Senior Floating Rate Income Fund II by 522.4% in the third quarter. Pathstone Holdings LLC now owns 494,547 shares of the investment management company’s stock worth $5,124,000 after purchasing an additional 415,084 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in 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 buying an additional 243,272 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of First Trust Senior Floating Rate Income Fund II by 20.4% in the third quarter. Advisors Asset Management Inc. now owns 449,632 shares of the investment management company’s stock valued at $4,658,000 after buying an additional 76,268 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in First Trust Senior Floating Rate Income Fund II during the second quarter worth $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.