First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Short Interest Up 623.8% in July

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 173,000 shares, an increase of 623.8% from the July 15th total of 23,900 shares. Based on an average daily volume of 174,900 shares, the short-interest ratio is presently 1.0 days.

Institutional Trading of First Trust Senior Floating Rate Income Fund II

Several hedge funds have recently bought and sold shares of FCT. Strategic Financial Concepts LLC boosted its position in First Trust Senior Floating Rate Income Fund II by 1,095.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 265,472 shares of the investment management company’s stock worth $26,000 after acquiring an additional 243,272 shares during the period. GraniteShares Advisors LLC acquired a new stake in First Trust Senior Floating Rate Income Fund II in the fourth quarter worth about $1,507,000. Relative Value Partners Group LLC lifted its holdings in First Trust Senior Floating Rate Income Fund II by 33.5% in the fourth quarter. Relative Value Partners Group LLC now owns 560,545 shares of the investment management company’s stock worth $5,656,000 after purchasing an additional 140,539 shares during the period. Jones Road Capital Management L.P. boosted its holdings in shares of First Trust Senior Floating Rate Income Fund II by 57.5% in the fourth quarter. Jones Road Capital Management L.P. now owns 370,054 shares of the investment management company’s stock valued at $3,734,000 after acquiring an additional 135,054 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of First Trust Senior Floating Rate Income Fund II during the fourth quarter valued at approximately $9,339,000.

First Trust Senior Floating Rate Income Fund II Price Performance

Shares of NYSE:FCT traded down $0.03 during trading on Wednesday, reaching $10.26. 70,385 shares of the company’s stock traded hands, compared to its average volume of 136,029. First Trust Senior Floating Rate Income Fund II has a 12 month low of $9.51 and a 12 month high of $10.59. The company has a 50 day moving average of $10.20 and a 200-day moving average of $10.22.

First Trust Senior Floating Rate Income Fund II Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be given a $0.097 dividend. This represents a $1.16 annualized dividend and a yield of 11.35%. The ex-dividend date is Thursday, August 1st.

First Trust Senior Floating Rate Income Fund II Company Profile

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.