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FCT

First Trust Senior Floating Rate Income Fund II
FCT

45 hedge funds and large institutions have $71.4M invested in First Trust Senior Floating Rate Income Fund II in 2014 Q1 according to their latest regulatory filings, with 8 funds opening new positions, 11 increasing their positions, 13 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

14% more first-time investments, than exits

New positions opened: 8 | Existing positions closed: 7

7% more capital invested

Capital invested by funds: $66.8M → $71.4M (+$4.64M)

2% more funds holding

Funds holding: 44 → 45 (+1)

1.26% more ownership

Funds ownership: 17.26% → 18.53% (+1.3%)

15% less repeat investments, than reductions

Existing positions increased: 11 | Existing positions reduced: 13

Holders
45
Holders Change
+1
Holders Change %
+2.27%
% of All Funds
1.3%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
8
Increased
11
Reduced
13
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
BF
BOK Financial
Oklahoma
+$1.59M
2
RCM
Robinson Capital Management
Michigan
+$1.36M
3
U
UBS
Switzerland
+$909K
4
MIG
Mariner Investment Group
New York
+$634K
5
CA
Cornerstone Advisors
North Carolina
+$623K

Top Sellers

Rank Fund Capital Flow
1
PP
Paloma Partners
Connecticut
-$1.1M
2
GC
Guggenheim Capital
Illinois
-$793K
3
Wells Fargo
Wells Fargo
California
-$567K
4
AI
Atria Investments
North Carolina
-$420K
5
WAM
Weiss Asset Management
Massachusetts
-$385K
Name Holding Trade Value Shares
Change 		Change in
Stake
LPC
26
Loeb Partners Corp
New York
$230K -$28.7K -2,000 -11%
Janney Montgomery Scott
27
Janney Montgomery Scott
Pennsylvania
$204K +$31.2K +2,175 +18%
SRC
28
Shufro Rose & Co
New York
$190K – – –
UCFA
29
United Capital Financial Advisors
Texas
$168K -$21.5K -1,500 -11%
Commonwealth Equity Services
30
Commonwealth Equity Services
Massachusetts
$163K -$212K -14,779 -57%
Ameriprise
31
Ameriprise
Minnesota
$69K +$49.9K +3,477 +270%
AA
32
Apriem Advisors
California
$51K – – –
CFN
33
Cordasco Financial Network
Florida
$46K – – –
WRM
34
Westport Resources Management
Connecticut
$43K – – –
WCMNY
35
Westchester Capital Management (New York)
New York
$40K +$39.8K +2,772 New
Citigroup
36
Citigroup
New York
$27K -$189K -13,164 -87%
RIA
37
Regal Investment Advisors
Michigan
$25K – – –
AllianceBernstein
38
AllianceBernstein
Tennessee
$17K +$17.2K +1,200 New
US Bancorp
39
US Bancorp
Minnesota
$14K – – –
TRCT
40
Tower Research Capital (TRC)
New York
$7K -$46.2K -3,218 -87%
Bessemer Group
41
Bessemer Group
New Jersey
$7K – – –
BNP Paribas Financial Markets
42
BNP Paribas Financial Markets
France
$4.21K – – –
LTFS
43
Ladenburg Thalmann Financial Services
Florida
$3K – – –
Barclays
44
Barclays
United Kingdom
$1K -$183K -12,764 -99%
AIG
45
American International Group
New York
$318 – – –
PP
46
Paloma Partners
Connecticut
– -$1.1M -76,091 Closed
WAM
47
Weiss Asset Management
Massachusetts
– -$385K -26,583 Closed
SG Americas Securities
48
SG Americas Securities
New York
– -$326K -22,499 Closed
SFS
49
Shaker Financial Services
Virginia
– -$210K -14,455 Closed
WEC
50
Winslow Evans & Crocker
Massachusetts
– -$73K -5,000 Closed
1
2
3

FCT Hedge Fund Activity: Q1 2014 in Review

45 of the 3,462 institutional investors tracked by Wall St. Rank reported a position in First Trust Senior Floating Rate Income Fund II (FCT) for Q1 2014, worth a combined $71.4M — up 7% from $66.8M a quarter earlier.

Buyers outnumbered sellers: 8 funds opened new FCT positions and 7 closed out — a net gain of 1 holder — while 11 added to existing stakes and 13 trimmed.

The largest buyer was BOK Financial, opening a new position worth an estimated $1.59M. The largest seller was Paloma Partners, exiting entirely with an estimated $1.1M sold.

  • 45 institutional investors held First Trust Senior Floating Rate Income Fund II (FCT) as of Q1 2014, up from 44 in Q4 2013.
  • Funds reported $71.4M of First Trust Senior Floating Rate Income Fund II stock for Q1 2014, up 7% quarter-over-quarter.
  • 8 funds opened new First Trust Senior Floating Rate Income Fund II positions in Q1 2014 and 7 closed out, a net change of +1 holder.
  • The largest First Trust Senior Floating Rate Income Fund II buyer in Q1 2014 was BOK Financial, an estimated $1.59M added.
  • The largest First Trust Senior Floating Rate Income Fund II seller in Q1 2014 was Paloma Partners, an estimated $1.1M sold.

Based on aggregated 13F filings for Q1 2014.