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

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) saw a significant growth in short interest in December. As of December 15th, there was short interest totalling 42,700 shares, a growth of 24.5% from the November 30th total of 34,300 shares. Based on an average daily volume of 112,100 shares, the short-interest ratio is currently 0.4 days.

Insider Activity at First Trust Senior Floating Rate Income Fund II

In other news, insider James A. Bowen sold 3,955 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $10.41, for a total value of $41,171.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Trading of First Trust Senior Floating Rate Income Fund II

Hedge funds have recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC increased its stake in shares of 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 purchasing an additional 243,272 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in First Trust Senior Floating Rate Income Fund II in the second quarter worth $523,000. Concurrent Investment Advisors LLC raised its stake in shares of First Trust Senior Floating Rate Income Fund II by 11.5% in the second quarter. Concurrent Investment Advisors LLC now owns 11,150 shares of the investment management company’s stock valued at $112,000 after buying an additional 1,150 shares during the period. GraniteShares Advisors LLC lifted its position in shares of First Trust Senior Floating Rate Income Fund II by 14.3% during the 2nd quarter. GraniteShares Advisors LLC now owns 195,530 shares of the investment management company’s stock valued at $1,971,000 after buying an additional 24,390 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new position in shares of First Trust Senior Floating Rate Income Fund II during the 2nd quarter worth $79,000.

First Trust Senior Floating Rate Income Fund II Stock Performance

Shares of NYSE:FCT opened at $10.47 on Tuesday. First Trust Senior Floating Rate Income Fund II has a 1 year low of $9.70 and a 1 year high of $10.93. The business has a fifty day moving average price of $10.36 and a two-hundred day moving average price of $10.30.

First Trust Senior Floating Rate Income Fund II Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.097 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 11.12%.

About First Trust Senior Floating Rate Income Fund II

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.