Short Interest in First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Declines By 27.2%

First Trust Senior Floating Rate Income Fund II (NYSE:FCT) saw a large decrease in short interest during the month of January. As of January 15th, there was short interest totaling 28,857 shares, a decrease of 27.2% from the December 31st total of 39,646 shares. Based on an average daily volume of 128,024 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 128,024 shares, the days-to-cover ratio is currently 0.2 days.

First Trust Senior Floating Rate Income Fund II Stock Performance

NYSE:FCT opened at $10.10 on Friday. First Trust Senior Floating Rate Income Fund II has a fifty-two week low of $8.61 and a fifty-two week high of $10.49. The firm has a 50-day simple moving average of $9.91 and a two-hundred day simple moving average of $9.92.

First Trust Senior Floating Rate Income Fund II Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, February 2nd will be issued a $0.097 dividend. This represents a c) dividend on an annualized basis and a yield of 11.5%. The ex-dividend date is Monday, February 2nd.

Institutional Trading of First Trust Senior Floating Rate Income Fund II

Several institutional investors have recently added to or reduced their stakes in the business. Accredited Investor Services LLC purchased a new position in shares of First Trust Senior Floating Rate Income Fund II in the second quarter worth $103,000. Alteri Wealth LLC bought a new stake in First Trust Senior Floating Rate Income Fund II in the 3rd quarter worth about $104,000. Tactive Advisors LLC purchased a new position in First Trust Senior Floating Rate Income Fund II in the 2nd quarter worth about $114,000. Jane Street Group LLC bought a new position in First Trust Senior Floating Rate Income Fund II during the 2nd quarter valued at about $144,000. Finally, Seven Mile Advisory bought a new position in First Trust Senior Floating Rate Income Fund II during the 3rd quarter valued at about $176,000.

First Trust Senior Floating Rate Income Fund II Company Profile

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.