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

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

First Trust Senior Floating Rate Income Fund II Stock Performance

Shares of NYSE FCT traded down $0.06 during midday trading on Friday, hitting $9.76. The stock had a trading volume of 46,664 shares, compared to its average volume of 94,032. 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 company has a fifty day moving average price of $9.72 and a 200 day moving average price of $9.79.

First Trust Senior Floating Rate Income Fund II Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be paid a $0.097 dividend. This represents a c) annualized dividend and a dividend yield of 11.9%. The ex-dividend date of this dividend is Friday, May 1st.

Hedge Funds Weigh In On First Trust Senior Floating Rate Income Fund II

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. increased its holdings in First Trust Senior Floating Rate Income Fund II by 2.6% during the 2nd quarter. Geneos Wealth Management Inc. now owns 40,891 shares of the investment management company’s stock worth $415,000 after purchasing an additional 1,024 shares during the last quarter. NWF Advisory Services Inc. increased its holdings in First Trust Senior Floating Rate Income Fund II by 9.7% during the 3rd quarter. NWF Advisory Services Inc. now owns 26,537 shares of the investment management company’s stock worth $265,000 after purchasing an additional 2,350 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in First Trust Senior Floating Rate Income Fund II by 12.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 31,396 shares of the investment management company’s stock worth $314,000 after purchasing an additional 3,373 shares during the last quarter. Truist Financial Corp increased its holdings in First Trust Senior Floating Rate Income Fund II by 14.8% during the 3rd quarter. Truist Financial Corp now owns 34,731 shares of the investment management company’s stock worth $347,000 after purchasing an additional 4,473 shares during the last quarter. Finally, Global Retirement Partners LLC increased its holdings in First Trust Senior Floating Rate Income Fund II by 181.9% during the 4th quarter. Global Retirement Partners LLC now owns 9,955 shares of the investment management company’s stock worth $100,000 after purchasing an additional 6,424 shares during the last quarter.

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.