First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Short Interest Update

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

Institutional Trading of First Trust Senior Floating Rate Income Fund II

A number of institutional investors have recently modified their holdings of FCT. Ameriflex Group Inc. acquired a new stake in First Trust Senior Floating Rate Income Fund II in the 4th quarter valued at approximately $186,000. Helium Advisors LLC acquired a new stake in shares of First Trust Senior Floating Rate Income Fund II in the fourth quarter valued at approximately $1,231,000. Pathstone Holdings LLC lifted its position in shares of First Trust Senior Floating Rate Income Fund II by 38.4% in the fourth quarter. Pathstone Holdings LLC now owns 684,329 shares of the investment management company’s stock worth $7,083,000 after purchasing an additional 189,782 shares in the last quarter. Cetera Investment Advisers boosted its holdings in First Trust Senior Floating Rate Income Fund II by 5.7% during the fourth quarter. Cetera Investment Advisers now owns 49,292 shares of the investment management company’s stock worth $510,000 after purchasing an additional 2,672 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in First Trust Senior Floating Rate Income Fund II by 4.8% in the fourth quarter. Ameriprise Financial Inc. now owns 136,378 shares of the investment management company’s stock valued at $1,412,000 after purchasing an additional 6,280 shares in the last quarter.

First Trust Senior Floating Rate Income Fund II Price Performance

Shares of FCT stock remained flat at $10.17 during trading hours on Friday. 133,665 shares of the stock traded hands, compared to its average volume of 126,718. First Trust Senior Floating Rate Income Fund II has a 52 week low of $9.76 and a 52 week high of $10.93. The company has a 50 day moving average of $10.32 and a 200 day moving average of $10.34.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.097 per share. This represents a $1.16 dividend on an annualized basis and a yield of 11.45%. The ex-dividend date is Tuesday, April 1st.

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.