First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Short Interest Up 119.0% in June

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 49,368 shares, a growth of 119.0% from the June 15th total of 22,546 shares. Based on an average daily trading volume, of 105,940 shares, the days-to-cover ratio is presently 0.5 days.

First Trust Senior Floating Rate Income Fund II Price Performance

NYSE:FCT opened at $9.59 on Friday. The business’s fifty day moving average price is $9.64 and its 200 day moving average price is $9.77. First Trust Senior Floating Rate Income Fund II has a 1-year low of $9.40 and a 1-year high of $10.29.

First Trust Senior Floating Rate Income Fund II Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.0813 per share. This represents a c) annualized dividend and a yield of 10.2%. The ex-dividend date of this dividend was Wednesday, July 1st.

Institutional Trading of First Trust Senior Floating Rate Income Fund II

Hedge funds have recently made changes to their positions in the stock. Sit Investment Associates Inc. boosted its holdings in shares of First Trust Senior Floating Rate Income Fund II by 340.6% during the fourth quarter. Sit Investment Associates Inc. now owns 349,329 shares of the investment management company’s stock worth $3,518,000 after purchasing an additional 270,048 shares during the period. Focus Partners Wealth purchased a new stake in First Trust Senior Floating Rate Income Fund II in the 4th quarter worth approximately $2,436,000. Invesco Ltd. boosted its stake in shares of First Trust Senior Floating Rate Income Fund II by 36.6% during the 2nd quarter. Invesco Ltd. now owns 512,105 shares of the investment management company’s stock valued at $5,203,000 after buying an additional 137,308 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of First Trust Senior Floating Rate Income Fund II during the 4th quarter valued at $1,124,000. Finally, Wolverine Asset Management LLC purchased a new position in shares of First Trust Senior Floating Rate Income Fund II during the 4th quarter valued at $962,000.

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.