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FCT

First Trust Senior Floating Rate Income Fund II
FCT

62 hedge funds and large institutions have $108M invested in First Trust Senior Floating Rate Income Fund II in 2018 Q4 according to their latest regulatory filings, with 17 funds opening new positions, 16 increasing their positions, 21 reducing their positions, and 12 closing their positions.

New
Increased
Maintained
Reduced
Closed

42% more first-time investments, than exits

New positions opened: 17 | Existing positions closed: 12

7% more funds holding

Funds holding: 58 → 62 (+4)

5.92% more ownership

Funds ownership: 30.85% → 36.77% (+5.9%)

2% more capital invested

Capital invested by funds: $106M → $108M (+$1.89M)

24% less repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 21

Holders
62
Holders Change
+4
Holders Change %
+6.9%
% of All Funds
1.38%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
17
Increased
16
Reduced
21
Closed
12
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
+$4.33M
2
SIA
Sit Investment Associates
Minnesota
+$4.09M
3
SCM
Saba Capital Management
New York
+$3.55M
4
RVPG
Relative Value Partners Group
+$1.92M
5
CRC
Curi RMB Capital
Illinois
+$1.6M

Top Sellers

Rank Fund Capital Flow
1
CWM
Cornerstone Wealth Management
Missouri
-$2.37M
2
Morgan Stanley
Morgan Stanley
New York
-$1.69M
3
AFP
Ausdal Financial Partners
Iowa
-$1.2M
4
KA
Klingman & Associates
New York
-$920K
5
Bank of America
Bank of America
North Carolina
-$393K
Name Holding Trade Value Shares
Change 		Change in
Stake
JP Morgan Chase
26
JP Morgan Chase
New York
$609K +$433K +36,274 +200%
QGA
27
Q Global Advisors
Texas
$563K +$600K +50,239 New
AC
28
Almitas Capital
California
$504K +$537K +44,977 New
PPA
29
Parametric Portfolio Associates
Washington
$503K +$536K +44,887 New
Millennium Management
30
Millennium Management
New York
$462K +$493K +41,257 New
WAM
31
Weiss Asset Management
Massachusetts
$452K +$482K +40,388 New
Wells Fargo
32
Wells Fargo
California
$440K -$19.9K -1,668 -4%
AA
33
AQR Arbitrage
Connecticut
$417K +$445K +37,274 New
WCM
34
Whitener Capital Management
North Carolina
$401K -$13.9K -1,160 -3%
Susquehanna International Group
35
Susquehanna International Group
Pennsylvania
$395K +$421K +35,247 New
SRC
36
Shufro Rose & Co
New York
$324K +$15.5K +1,300 +5%
MIG
37
Mariner Investment Group
New York
$324K +$346K +28,964 New
FIMG
38
Financial & Investment Management Group
Michigan
$296K +$316K +26,450 New
Royal Bank of Canada
39
Royal Bank of Canada
Ontario, Canada
$294K -$244K -20,391 -44%
RJFSA
40
Raymond James Financial Services Advisors
Florida
$294K +$17K +1,427 +6%
DA
41
Doliver Advisors
Texas
$265K -$191K -15,957 -40%
LTFS
42
Ladenburg Thalmann Financial Services
Florida
$257K +$36.5K +3,058 +15%
PAS
43
Park Avenue Securities
New York
$217K +$221K +18,543 New
LPL Financial
44
LPL Financial
California
$186K -$146K -12,242 -42%
CAN
45
Cetera Advisor Networks
California
$164K – – –
TSS
46
Two Sigma Securities
New York
$161K +$171K +14,355 New
GWM
47
Geneos Wealth Management
Colorado
$146K +$275 +23 +0.2%
UCFA
48
United Capital Financial Advisors
Texas
$133K – – –
VAM
49
Visionary Asset Management
Texas
$118K -$45.7K -3,828 -27%
BCM
50
Basso Capital Management
Connecticut
$110K +$119K +10,000 New
1
2
3

FCT Hedge Fund Activity: Q4 2018 in Review

62 of the 4,488 institutional investors tracked by Wall St. Rank reported a position in First Trust Senior Floating Rate Income Fund II (FCT) for Q4 2018, worth a combined $108M — up 1.8% from $106M a quarter earlier.

Buyers outnumbered sellers: 17 funds opened new FCT positions and 12 closed out — a net gain of 5 holders — while 16 added to existing stakes and 21 trimmed.

The largest buyer was Rivernorth Capital Management, opening a new position worth an estimated $4.33M. The largest seller was Cornerstone Wealth Management, exiting entirely with an estimated $2.37M sold.

  • 62 institutional investors held First Trust Senior Floating Rate Income Fund II (FCT) as of Q4 2018, up from 58 in Q3 2018.
  • Funds reported $108M of First Trust Senior Floating Rate Income Fund II stock for Q4 2018, up 1.8% quarter-over-quarter.
  • 17 funds opened new First Trust Senior Floating Rate Income Fund II positions in Q4 2018 and 12 closed out, a net change of +5 holders.
  • The largest First Trust Senior Floating Rate Income Fund II buyer in Q4 2018 was Rivernorth Capital Management, an estimated $4.33M added.
  • The largest First Trust Senior Floating Rate Income Fund II seller in Q4 2018 was Cornerstone Wealth Management, an estimated $2.37M sold.

Based on aggregated 13F filings for Q4 2018.