First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Short Interest Up 61.7% in January

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) saw a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 46,663 shares, an increase of 61.7% from the January 15th total of 28,857 shares. Based on an average trading volume of 114,969 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 114,969 shares, the days-to-cover ratio is currently 0.4 days.

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

Several large investors have recently modified their holdings of the business. Advisors Asset Management Inc. lifted its holdings in shares of First Trust Senior Floating Rate Income Fund II by 8.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 719,607 shares of the investment management company’s stock valued at $7,196,000 after purchasing an additional 55,646 shares in the last quarter. Penserra Capital Management LLC lifted its stake in First Trust Senior Floating Rate Income Fund II by 93.2% in the third quarter. Penserra Capital Management LLC now owns 714,654 shares of the investment management company’s stock valued at $7,146,000 after buying an additional 344,758 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of First Trust Senior Floating Rate Income Fund II by 2.0% in the second quarter. Bank of America Corp DE now owns 643,395 shares of the investment management company’s stock valued at $6,537,000 after buying an additional 12,835 shares during the period. Invesco Ltd. increased its position in shares of First Trust Senior Floating Rate Income Fund II by 24.0% during the third quarter. Invesco Ltd. now owns 634,778 shares of the investment management company’s stock worth $6,348,000 after acquiring an additional 122,673 shares in the last quarter. Finally, GraniteShares Advisors LLC raised its holdings in shares of First Trust Senior Floating Rate Income Fund II by 9.7% during the third quarter. GraniteShares Advisors LLC now owns 295,710 shares of the investment management company’s stock worth $2,957,000 after acquiring an additional 26,044 shares during the period.

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

First Trust Senior Floating Rate Income Fund II stock traded up $0.03 during midday trading on Friday, hitting $9.94. 64,601 shares of the stock were exchanged, compared to its average volume of 108,343. The company has a fifty day simple moving average of $9.99 and a two-hundred day simple moving average of $9.90. First Trust Senior Floating Rate Income Fund II has a 52 week low of $8.61 and a 52 week high of $10.47.

First Trust Senior Floating Rate Income Fund II Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd will be issued a $0.097 dividend. The ex-dividend date of this dividend is Monday, February 2nd. This represents a c) annualized dividend and a dividend yield of 11.7%.

About First Trust Senior Floating Rate Income Fund II

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.