First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Short Interest Down 61.9% in June

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) saw a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 22,546 shares, a decline of 61.9% from the May 31st total of 59,244 shares. Based on an average daily trading volume, of 115,997 shares, the days-to-cover ratio is currently 0.2 days.

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

NYSE:FCT opened at $9.65 on Friday. The company has a fifty day moving average of $9.69 and a 200 day moving average of $9.81. First Trust Senior Floating Rate Income Fund II has a 52 week low of $9.40 and a 52 week high of $10.29.

First Trust Senior Floating Rate Income Fund II Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be given a $0.0813 dividend. The ex-dividend date is Wednesday, July 1st. This represents a c) dividend on an annualized basis and a dividend yield of 10.1%.

Institutional Trading of First Trust Senior Floating Rate Income Fund II

A number of institutional investors have recently modified their holdings of the company. Sit Investment Associates Inc. grew its stake in shares of First Trust Senior Floating Rate Income Fund II by 340.6% in the fourth quarter. Sit Investment Associates Inc. now owns 349,329 shares of the investment management company’s stock worth $3,518,000 after purchasing an additional 270,048 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in First Trust Senior Floating Rate Income Fund II during the 4th quarter valued at about $962,000. Cetera Investment Advisers raised its position in First Trust Senior Floating Rate Income Fund II by 3.6% during the 1st quarter. Cetera Investment Advisers now owns 65,666 shares of the investment management company’s stock valued at $633,000 after purchasing an additional 2,288 shares during the last quarter. Genesis Financial Group LLC raised its position in First Trust Senior Floating Rate Income Fund II by 3.6% during the 1st quarter. Genesis Financial Group LLC now owns 43,114 shares of the investment management company’s stock valued at $416,000 after purchasing an additional 1,507 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in First Trust Senior Floating Rate Income Fund II by 20.7% in the 1st quarter. International Assets Investment Management LLC now owns 53,039 shares of the investment management company’s stock worth $504,000 after buying an additional 9,100 shares during the period.

About First Trust Senior Floating Rate Income Fund II

First Trust Senior Floating Rate Income Fund II (NYSE: FCT) is a diversified, closed-end management investment company that seeks to provide current income with preservation of capital. Listed on the New York Stock Exchange, the fund pursues its objective by investing primarily in senior floating rate loans and other floating rate debt instruments of U.S. and non-U.S. companies. As a closed-end vehicle, FCT issues a fixed number of common shares and may utilize leverage to enhance returns for shareholders.

Under normal market conditions, FCT allocates at least 80% of its managed assets to senior floating rate loans, which are typically secured obligations of corporate borrowers.