First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Short Interest Down 19.1% in April

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) saw a significant drop in short interest in April. As of April 15th, there was short interest totaling 190,543 shares, a drop of 19.1% from the March 31st total of 235,592 shares. Based on an average daily trading volume, of 69,216 shares, the short-interest ratio is presently 2.8 days.

First Trust Senior Floating Rate Income Fund II Trading Up 0.3%

First Trust Senior Floating Rate Income Fund II stock traded up $0.03 during mid-day trading on Thursday, reaching $9.85. The company had a trading volume of 43,451 shares, compared to its average volume of 94,609. First Trust Senior Floating Rate Income Fund II has a 1 year low of $9.40 and a 1 year high of $10.29. The stock’s 50-day simple moving average is $9.72 and its 200-day simple moving average is $9.79.

First Trust Senior Floating Rate Income Fund II Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be issued a $0.097 dividend. The ex-dividend date of this dividend is Friday, May 1st. This represents a c) dividend on an annualized basis and a yield of 11.8%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FCT. Global Retirement Partners LLC increased its holdings in First Trust Senior Floating Rate Income Fund II by 181.9% in the fourth quarter. Global Retirement Partners LLC now owns 9,955 shares of the investment management company’s stock valued at $100,000 after buying an additional 6,424 shares in the last quarter. Alteri Wealth LLC purchased a new position in First Trust Senior Floating Rate Income Fund II in the third quarter valued at about $104,000. XTX Topco Ltd purchased a new position in First Trust Senior Floating Rate Income Fund II in the fourth quarter valued at about $107,000. Jane Street Group LLC purchased a new position in First Trust Senior Floating Rate Income Fund II in the second quarter valued at about $144,000. Finally, Seven Mile Advisory purchased a new position in shares of First Trust Senior Floating Rate Income Fund II during the 3rd quarter worth approximately $176,000.

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.