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 large decline in short interest during the month of 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 volume of 110,300 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Investors Weigh In On First Trust Senior Floating Rate Income Fund II

Several hedge funds have recently added to or reduced their stakes in the business. Ameriflex Group Inc. bought a new position in shares of First Trust Senior Floating Rate Income Fund II in the fourth quarter valued at about $186,000. Helium Advisors LLC bought a new stake in shares of First Trust Senior Floating Rate Income Fund II during the 4th quarter worth about $1,231,000. Pathstone Holdings LLC grew its stake in First Trust Senior Floating Rate Income Fund II by 38.4% in the 4th quarter. Pathstone Holdings LLC now owns 684,329 shares of the investment management company’s stock valued at $7,083,000 after buying an additional 189,782 shares during the last quarter. Cetera Investment Advisers raised its holdings in First Trust Senior Floating Rate Income Fund II by 5.7% in the 4th quarter. Cetera Investment Advisers now owns 49,292 shares of the investment management company’s stock valued at $510,000 after acquiring an additional 2,672 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in First Trust Senior Floating Rate Income Fund II by 4.8% during the fourth quarter. Ameriprise Financial Inc. now owns 136,378 shares of the investment management company’s stock worth $1,412,000 after acquiring an additional 6,280 shares during the last quarter.

First Trust Senior Floating Rate Income Fund II Price Performance

Shares of First Trust Senior Floating Rate Income Fund II stock remained flat at $10.17 on Friday. The stock had a trading volume of 133,665 shares, compared to its average volume of 126,718. First Trust Senior Floating Rate Income Fund II has a one year low of $9.76 and a one year high of $10.93. The firm’s 50 day moving average is $10.32 and its 200-day moving average is $10.34.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.097 dividend. 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.