First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Sees Large Decrease in Short Interest

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) was the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 19,096 shares, a decline of 86.7% from the July 15th total of 143,827 shares. Based on an average trading volume of 184,492 shares, the days-to-cover ratio is currently 0.1 days.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. increased its holdings 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 worth $415,000 after buying an additional 1,024 shares during the last quarter. Genesis Financial Group LLC lifted its stake in First Trust Senior Floating Rate Income Fund II by 3.6% in the first quarter. Genesis Financial Group LLC now owns 43,114 shares of the investment management company’s stock valued at $416,000 after acquiring an additional 1,507 shares during the last quarter. CoreCap Advisors LLC grew its position in shares of First Trust Senior Floating Rate Income Fund II by 97.6% in the 2nd quarter. CoreCap Advisors LLC now owns 3,441 shares of the investment management company’s stock valued at $33,000 after acquiring an additional 1,700 shares during the period. Cetera Investment Advisers grew its position in shares of First Trust Senior Floating Rate Income Fund II by 3.6% in the 1st quarter. Cetera Investment Advisers now owns 65,666 shares of the investment management company’s stock valued at $633,000 after acquiring an additional 2,288 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of First Trust Senior Floating Rate Income Fund II by 12.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 31,396 shares of the investment management company’s stock valued at $314,000 after acquiring an additional 3,373 shares during the period.

First Trust Senior Floating Rate Income Fund II Stock Down 0.0%

FCT stock traded down $0.00 during trading on Wednesday, hitting $9.67. 1,136,436 shares of the company’s stock traded hands, compared to its average volume of 114,049. First Trust Senior Floating Rate Income Fund II has a 52 week low of $9.40 and a 52 week high of $10.24. The stock has a fifty day moving average price of $9.61 and a two-hundred day moving average price of $9.72.

First Trust Senior Floating Rate Income Fund II Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a $0.0813 dividend. This represents a c) annualized dividend and a yield of 10.1%. The ex-dividend date was Wednesday, July 1st.

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.