First Trust Senior Floating Rate Income Fund II (NYSE:FCT) Short Interest Down 51.6% in May

First Trust Senior Floating Rate Income Fund II (NYSE:FCT – Get Rating) was the target of a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 196,500 shares, a decline of 51.6% from the April 30th total of 405,900 shares. Based on an average trading volume of 127,400 shares, the days-to-cover ratio is currently 1.5 days.

Shares of First Trust Senior Floating Rate Income Fund II stock opened at $10.86 on Friday. First Trust Senior Floating Rate Income Fund II has a 1-year low of $10.66 and a 1-year high of $13.07. The firm’s 50-day moving average price is $12.14 and its two-hundred day moving average price is $12.05.

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Thursday, June 2nd will be paid a dividend of $0.072 per share. The ex-dividend date of this dividend is Wednesday, June 1st. This represents a $0.86 annualized dividend and a yield of 7.96%.

Institutional investors have recently modified their holdings of the business. Ahrens Investment Partners LLC bought a new stake in First Trust Senior Floating Rate Income Fund II during the fourth quarter worth about $27,000. Wolverine Asset Management LLC bought a new stake in First Trust Senior Floating Rate Income Fund II during the fourth quarter worth about $89,000. Atria Wealth Solutions Inc. bought a new stake in shares of First Trust Senior Floating Rate Income Fund II during the first quarter valued at approximately $140,000. Jaffetilchin Investment Partners LLC bought a new stake in shares of First Trust Senior Floating Rate Income Fund II during the first quarter valued at approximately $142,000. Finally, Citadel Advisors LLC bought a new stake in shares of First Trust Senior Floating Rate Income Fund II during the fourth quarter valued at approximately $143,000.

About First Trust Senior Floating Rate Income Fund II (Get Rating)

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.

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