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

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) was the recipient of a large drop in short interest during 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 daily volume of 164,318 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 164,318 shares, the days-to-cover ratio is presently 0.2 days.

First Trust Senior Floating Rate Income Fund II Trading Up 0.6%

Shares of FCT traded up $0.06 during trading hours on Monday, hitting $10.04. 307,191 shares of the stock were exchanged, compared to its average volume of 144,272. First Trust Senior Floating Rate Income Fund II has a fifty-two week low of $8.61 and a fifty-two week high of $10.49. The business has a 50-day moving average of $9.80 and a 200-day moving average of $9.92.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

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

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

A number of hedge funds have recently added to or reduced their stakes in FCT. Accredited Investor Services LLC acquired a new position in First Trust Senior Floating Rate Income Fund II in the second quarter valued at approximately $103,000. Alteri Wealth LLC bought a new stake in shares of First Trust Senior Floating Rate Income Fund II in the 3rd quarter valued at $104,000. Tactive Advisors LLC acquired a new position in shares of First Trust Senior Floating Rate Income Fund II during the 2nd quarter valued at $114,000. Jane Street Group LLC bought a new position in First Trust Senior Floating Rate Income Fund II during the second quarter worth $144,000. Finally, Seven Mile Advisory acquired a new stake in First Trust Senior Floating Rate Income Fund II in the third quarter worth $176,000.

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.