Short Interest in First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Declines By 19.3%

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 39,646 shares, a drop of 19.3% from the December 15th total of 49,124 shares. Based on an average trading volume of 164,318 shares, the days-to-cover ratio is presently 0.2 days. Based on an average trading volume of 164,318 shares, the days-to-cover ratio is presently 0.2 days.

First Trust Senior Floating Rate Income Fund II Stock Performance

Shares of NYSE:FCT traded down $0.06 on Tuesday, reaching $10.03. 57,315 shares of the company’s stock were exchanged, compared to its average volume of 135,532. First Trust Senior Floating Rate Income Fund II has a twelve month low of $8.61 and a twelve month high of $10.49. The company has a fifty day moving average of $9.81 and a 200-day moving average of $9.92.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd were given a dividend of $0.097 per share. This represents a c) dividend on an annualized basis and a dividend yield of 11.6%. The ex-dividend date was Friday, January 2nd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. raised its position in First Trust Senior Floating Rate Income Fund II by 2.6% during the second quarter. Geneos Wealth Management Inc. now owns 40,891 shares of the investment management company’s stock valued at $415,000 after purchasing an additional 1,024 shares in the last quarter. NWF Advisory Services Inc. grew its position in First Trust Senior Floating Rate Income Fund II by 5.9% in the 2nd quarter. NWF Advisory Services Inc. now owns 24,187 shares of the investment management company’s stock worth $246,000 after purchasing an additional 1,357 shares in the last quarter. RFG Advisory LLC lifted its holdings in First Trust Senior Floating Rate Income Fund II by 5.4% during the second quarter. RFG Advisory LLC now owns 33,717 shares of the investment management company’s stock worth $343,000 after acquiring an additional 1,731 shares during the period. TFG Advisers LLC increased its position in shares of First Trust Senior Floating Rate Income Fund II by 1.5% during the 2nd quarter. TFG Advisers LLC now owns 222,532 shares of the investment management company’s stock valued at $2,261,000 after purchasing an additional 3,298 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in First Trust Senior Floating Rate Income Fund II by 12.0% during the third quarter. Envestnet Asset Management Inc. now owns 31,396 shares of the investment management company’s stock worth $314,000 after buying an additional 3,373 shares during the last quarter.

First Trust Senior Floating Rate Income Fund II Company Profile

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.