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) saw a large increase in short interest in 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 trading volume, of 174,900 shares, the days-to-cover ratio is currently 1.0 days.

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

A number of institutional investors have recently bought and sold shares of the company. Concurrent Investment Advisors LLC raised its position in shares of First Trust Senior Floating Rate Income Fund II by 11.5% during the 2nd 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. Oppenheimer & Co. Inc. increased its stake in First Trust Senior Floating Rate Income Fund II by 11.0% during the first quarter. Oppenheimer & Co. Inc. now owns 17,600 shares of the investment management company’s stock worth $182,000 after acquiring an additional 1,746 shares during the last quarter. Shaker Financial Services LLC raised its position in First Trust Senior Floating Rate Income Fund II by 8.1% in the fourth quarter. Shaker Financial Services LLC now owns 26,675 shares of the investment management company’s stock valued at $269,000 after purchasing an additional 1,999 shares during the period. Raymond James & Associates raised its position in First Trust Senior Floating Rate Income Fund II by 21.3% in the fourth quarter. Raymond James & Associates now owns 12,401 shares of the investment management company’s stock valued at $125,000 after purchasing an additional 2,175 shares during the period. Finally, Jones Financial Companies Lllp acquired a new position in shares of First Trust Senior Floating Rate Income Fund II in the 4th quarter valued at $27,000.

First Trust Senior Floating Rate Income Fund II Stock Down 0.3 %

Shares of FCT traded down $0.03 during midday trading on Wednesday, reaching $10.26. The company had a trading volume of 70,385 shares, compared to its average volume of 136,029. The firm has a 50 day simple moving average of $10.20 and a 200-day simple moving average of $10.22. First Trust Senior Floating Rate Income Fund II has a 1-year low of $9.51 and a 1-year high of $10.59.

First Trust Senior Floating Rate Income Fund II Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a dividend of $0.097 per share. This represents a $1.16 annualized dividend and a yield of 11.35%. The ex-dividend date of this dividend 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.