First Trust Senior Floating Rate Income Fund II (NYSE:FCT – Get Free Report) was the recipient of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 22,546 shares, a decrease of 61.9% from the May 31st total of 59,244 shares. Based on an average daily trading volume, of 115,997 shares, the days-to-cover ratio is presently 0.2 days.
Hedge Funds Weigh In On First Trust Senior Floating Rate Income Fund II
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC lifted its stake in shares of First Trust Senior Floating Rate Income Fund II by 181.9% during the fourth quarter. Global Retirement Partners LLC now owns 9,955 shares of the investment management company’s stock worth $100,000 after purchasing an additional 6,424 shares in the last quarter. XTX Topco Ltd acquired a new stake in First Trust Senior Floating Rate Income Fund II during the fourth quarter valued at approximately $107,000. Jane Street Group LLC acquired a new stake in shares of First Trust Senior Floating Rate Income Fund II during the 2nd quarter valued at approximately $144,000. Seven Mile Advisory bought a new position in shares of First Trust Senior Floating Rate Income Fund II in the 3rd quarter worth about $176,000. Finally, Verity Asset Management Inc. lifted its holdings in First Trust Senior Floating Rate Income Fund II by 62.0% in the third quarter. Verity Asset Management Inc. now owns 25,474 shares of the investment management company’s stock worth $255,000 after acquiring an additional 9,754 shares during the last quarter.
First Trust Senior Floating Rate Income Fund II Price Performance
Shares of FCT traded down $0.07 during mid-day trading on Monday, hitting $9.63. The company had a trading volume of 124,064 shares, compared to its average volume of 96,065. First Trust Senior Floating Rate Income Fund II has a 1-year low of $9.40 and a 1-year high of $10.29. The business’s 50-day simple moving average is $9.69 and its 200-day simple moving average is $9.81.
First Trust Senior Floating Rate Income Fund II Cuts Dividend
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.
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