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FCT

First Trust Senior Floating Rate Income Fund II
FCT

69 hedge funds and large institutions have $110M invested in First Trust Senior Floating Rate Income Fund II in 2020 Q1 according to their latest regulatory filings, with 15 funds opening new positions, 21 increasing their positions, 24 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

88% more first-time investments, than exits

New positions opened: 15 | Existing positions closed: 8

6% more funds holding

Funds holding: 65 → 69 (+4)

0.07% less ownership

Funds ownership: 43.32% → 43.25% (-0.07%)

13% less repeat investments, than reductions

Existing positions increased: 21 | Existing positions reduced: 24

24% less capital invested

Capital invested by funds: $146M → $110M (-$35.5M)

Holders
69
Holders Change
+4
Holders Change %
+6.15%
% of All Funds
1.52%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
15
Increased
21
Reduced
24
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$4.51M
2
CCP
Clough Capital Partners
Massachusetts
+$1.66M
3
WMG
WESCAP Management Group
California
+$1.45M
4
Invesco
Invesco
Georgia
+$715K
5
6M
6 Meridian
Kansas
+$527K

Top Sellers

Rank Fund Capital Flow
1
SCM
Saba Capital Management
New York
-$3.84M
2
SIA
Sit Investment Associates
Minnesota
-$2.2M
3
RVPG
Relative Value Partners Group
-$1.17M
4
QGA
Q Global Advisors
Texas
-$969K
5
MIG
Mariner Investment Group
New York
-$782K
Name Holding Trade Value Shares
Change 		Change in
Stake
JP Morgan Chase
26
JP Morgan Chase
New York
$418K +$8.56K +738 +2%
Envestnet Asset Management
27
Envestnet Asset Management
Illinois
$410K +$99K +8,531 +25%
PAS
28
Park Avenue Securities
New York
$408K +$122K +10,513 +33%
Royal Bank of Canada
29
Royal Bank of Canada
Ontario, Canada
$370K +$55.4K +4,772 +14%
WCM
30
Whitener Capital Management
North Carolina
$343K +$3.6K +310 +0.9%
RJA
31
Raymond James & Associates
Florida
$322K -$85.9K -7,410 -18%
Wells Fargo
32
Wells Fargo
California
$321K +$55.4K +4,778 +17%
Goldman Sachs
33
Goldman Sachs
New York
$311K +$379K +32,688 New
SRC
34
Shufro Rose & Co
New York
$274K – – –
TWM
35
Titus Wealth Management
California
$248K +$303K +26,100 New
Osaic Holdings
36
Osaic Holdings
Arizona
$231K +$283K +24,363 New
CRC
37
Curi RMB Capital
Illinois
$225K +$275K +23,700 New
IAN
38
Integrated Advisors Network
Texas
$216K +$54.7K +4,712 +26%
WCMNY
39
Westchester Capital Management (New York)
New York
$215K – – –
AA
40
Apriem Advisors
California
$204K – – –
AA
41
AQR Arbitrage
Connecticut
$183K -$42.1K -3,631 -16%
AM
42
Ares Management
California
$182K -$10.4K -899 -4%
RJFSA
43
Raymond James Financial Services Advisors
Florida
$180K -$115K -9,907 -34%
BRWA
44
B. Riley Wealth Advisors
Florida
$168K +$204K +17,568 New
GWM
45
Geneos Wealth Management
Colorado
$165K +$6.76K +583 +3%
DA
46
Doliver Advisors
Texas
$135K +$152K +13,146 New
Walleye Capital
47
Walleye Capital
New York
$129K -$24K -2,071 -13%
BI
48
Bulldog Investors
New Jersey
$129K +$158K +13,584 New
UCFA
49
United Capital Financial Advisors
Texas
$113K – – –
AC
50
Almitas Capital
California
$108K -$593K -51,104 -82%
1
2
3 4

FCT Hedge Fund Activity: Q1 2020 in Review

69 of the 4,539 institutional investors tracked by Wall St. Rank reported a position in First Trust Senior Floating Rate Income Fund II (FCT) for Q1 2020, worth a combined $110M — down 24% from $146M a quarter earlier.

Buyers outnumbered sellers: 15 funds opened new FCT positions and 8 closed out — a net gain of 7 holders — while 21 added to existing stakes and 24 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $4.51M. The largest seller was Saba Capital Management, cutting an estimated $3.84M.

  • 69 institutional investors held First Trust Senior Floating Rate Income Fund II (FCT) as of Q1 2020, up from 65 in Q4 2019.
  • Funds reported $110M of First Trust Senior Floating Rate Income Fund II stock for Q1 2020, down 24% quarter-over-quarter.
  • 15 funds opened new First Trust Senior Floating Rate Income Fund II positions in Q1 2020 and 8 closed out, a net change of +7 holders.
  • The largest First Trust Senior Floating Rate Income Fund II buyer in Q1 2020 was Morgan Stanley, an estimated $4.51M added.
  • The largest First Trust Senior Floating Rate Income Fund II seller in Q1 2020 was Saba Capital Management, an estimated $3.84M sold.

Based on aggregated 13F filings for Q1 2020.