First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Short Interest Down 47.0% in March

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 61,700 shares, a drop of 47.0% from the February 28th total of 116,500 shares. Based on an average daily trading volume, of 110,300 shares, the days-to-cover ratio is currently 0.6 days.

First Trust Senior Floating Rate Income Fund II Price Performance

FCT stock traded down $0.01 during mid-day trading on Friday, reaching $10.17. The company had a trading volume of 71,945 shares, compared to its average volume of 126,469. The firm has a 50 day moving average of $10.32 and a 200 day moving average of $10.34. First Trust Senior Floating Rate Income Fund II has a 12 month low of $9.76 and a 12 month high of $10.93.

First Trust Senior Floating Rate Income Fund II Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.097 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $1.16 annualized dividend and a yield of 11.45%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FCT. Avior Wealth Management LLC grew its position in shares of First Trust Senior Floating Rate Income Fund II by 22.1% during the 4th quarter. Avior Wealth Management LLC now owns 7,749 shares of the investment management company’s stock worth $80,000 after buying an additional 1,400 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in First Trust Senior Floating Rate Income Fund II by 27.8% in the fourth quarter. Concurrent Investment Advisors LLC now owns 14,250 shares of the investment management company’s stock worth $147,000 after acquiring an additional 3,100 shares during the period. Moss Adams Wealth Advisors LLC purchased a new stake in First Trust Senior Floating Rate Income Fund II in the fourth quarter worth about $171,000. SeaCrest Wealth Management LLC grew its holdings in First Trust Senior Floating Rate Income Fund II by 10.8% during the 4th quarter. SeaCrest Wealth Management LLC now owns 17,152 shares of the investment management company’s stock worth $178,000 after acquiring an additional 1,669 shares in the last quarter. Finally, Ameriflex Group Inc. purchased a new position in First Trust Senior Floating Rate Income Fund II during the 4th quarter valued at about $186,000.

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.