Apollo Senior Floating Rate Fund Inc. (NYSE:AFT) Sees Significant Increase in Short Interest

Apollo Senior Floating Rate Fund Inc. (NYSE:AFT – Get Rating) was the target of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 5,300 shares, an increase of 43.2% from the March 31st total of 3,700 shares. Based on an average daily trading volume, of 71,400 shares, the days-to-cover ratio is currently 0.1 days.

Hedge funds have recently modified their holdings of the business. Stonebridge Capital Advisors LLC purchased a new position in Apollo Senior Floating Rate Fund in the fourth quarter worth $64,000. Rockefeller Capital Management L.P. boosted its position in Apollo Senior Floating Rate Fund by 628.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 12,750 shares of the closed-end fund’s stock valued at $205,000 after buying an additional 11,000 shares during the period. First Trust Advisors LP raised its stake in shares of Apollo Senior Floating Rate Fund by 24.5% during the first quarter. First Trust Advisors LP now owns 13,460 shares of the closed-end fund’s stock valued at $200,000 after acquiring an additional 2,651 shares during the last quarter. Zazove Associates LLC bought a new position in shares of Apollo Senior Floating Rate Fund during the first quarter valued at about $212,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Apollo Senior Floating Rate Fund during the fourth quarter valued at about $265,000.

Shares of NYSE AFT traded down $0.08 during trading on Friday, reaching $14.12. The company had a trading volume of 32,350 shares, compared to its average volume of 76,315. The company’s fifty day moving average price is $14.75 and its 200-day moving average price is $15.73. Apollo Senior Floating Rate Fund has a 12 month low of $14.10 and a 12 month high of $17.20.

The company also recently disclosed a monthly dividend, which was paid on Friday, April 29th. Investors of record on Thursday, April 21st were paid a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, April 20th. This represents a $0.96 annualized dividend and a yield of 6.80%.

Apollo Senior Floating Rate Fund Company Profile (Get Rating)

Apollo Senior Floating Rate Fund Inc is a closed ended fixed income mutual fund launched and managed by Apollo Credit Management, LLC. The Fund invests in fixed income markets. It primarily invests in senior secured loans made to companies whose debt is rated below investment grade. The Fund employs a conservative approach to credit selection that focuses on collateral coverage, structural seniority, and credit fundamentals, with emphasis on leading defensible market positions, stable companies with positive cash flow, and proven management teams.

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