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FCT

First Trust Senior Floating Rate Income Fund II
FCT

63 hedge funds and large institutions have $101M invested in First Trust Senior Floating Rate Income Fund II in 2021 Q1 according to their latest regulatory filings, with 5 funds opening new positions, 25 increasing their positions, 19 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

32% more repeat investments, than reductions

Existing positions increased: 25 | Existing positions reduced: 19

6.47% less ownership

Funds ownership: 37.47% → 31% (-6.5%)

7% less funds holding

Funds holding: 68 → 63 (-5)

12% less capital invested

Capital invested by funds: $116M → $101M (-$14.3M)

50% less first-time investments, than exits

New positions opened: 5 | Existing positions closed: 10

Holders
63
Holders Change
-5
Holders Change %
-7.35%
% of All Funds
1.11%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
5
Increased
25
Reduced
19
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$3.25M
2
LPL Financial
LPL Financial
California
+$2.87M
3
Jane Street
Jane Street
New York
+$2.16M
4
EIA
Edgemoor Investment Advisors
Maryland
+$490K
5
Stifel Financial
Stifel Financial
Missouri
+$338K

Top Sellers

Rank Fund Capital Flow
1
SCM
Saba Capital Management
New York
-$16M
2
GI
Gradient Investments
Minnesota
-$6.1M
3
RVPG
Relative Value Partners Group
-$3.63M
4
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$801K
5
CCP
Clough Capital Partners
Massachusetts
-$781K
Name Holding Trade Value Shares
Change 		Change in
Stake
HI
51
Harbour Investments
Wisconsin
$18K +$17.8K +1,489 New
FEG
52
Financial Enhancement Group
Indiana
$14K -$452K -37,874 -97%
IAIM
53
International Assets Investment Management
Florida
$14K – – –
CFN
54
Cordasco Financial Network
Florida
$13K – – –
Northwestern Mutual Wealth Management
55
Northwestern Mutual Wealth Management
Wisconsin
$6K -$278K -23,288 -98%
PGAM
56
Princeton Global Asset Management
New Jersey
$5K – – –
CBT
57
CoreFirst Bank & Trust
Kansas
$4K – – –
CHA
58
Carmichael Hill & Associates
Maryland
$4K +$3.44K +289 New
APA
59
American Portfolios Advisors
New York
$3.84K – – –
KFI
60
Key Financial Inc
Pennsylvania
$3K – – –
Citigroup
61
Citigroup
New York
$2K -$322 -27 -12%
PAM
62
Panagora Asset Management
Massachusetts
$1K +$131 +11 +14%
SCM
63
Saba Capital Management
New York
– -$16M -1,379,750 Closed
Envestnet Asset Management
64
Envestnet Asset Management
Illinois
– -$801K -68,930 Closed
PAS
65
Park Avenue Securities
New York
– -$759K -65,342 Closed
PCM
66
PenderFund Capital Management
British Columbia, Canada
– -$740K -50,000 Closed
IAN
67
Integrated Advisors Network
Texas
– -$264K -22,712 Closed
QC
68
Quantedge Capital
Singapore
– -$221K -18,988 Closed
BI
69
Bulldog Investors
New Jersey
– -$158K -13,584 Closed
CWM
70
Cornerstone Wealth Management
Missouri
– -$157K -13,524 Closed
ICMP
71
Integrated Capital Management (Pennsylvania)
Pennsylvania
– -$119K -10,207 Closed
ASN
72
Advisory Services Network
Georgia
– -$18K -1,517 Closed
GRP
73
Global Retirement Partners
California
– +$12 +1 +3%
1 2
3

FCT Hedge Fund Activity: Q1 2021 in Review

63 of the 5,695 institutional investors tracked by Wall St. Rank reported a position in First Trust Senior Floating Rate Income Fund II (FCT) for Q1 2021, worth a combined $101M — down 12% from $116M a quarter earlier.

Sellers outnumbered buyers: 10 funds closed out of FCT and 5 opened new positions — a net loss of 5 holders — while 19 trimmed existing stakes and 25 added.

The largest buyer was Morgan Stanley, adding an estimated $3.25M. The largest seller was Saba Capital Management, exiting entirely with an estimated $16M sold.

  • 63 institutional investors held First Trust Senior Floating Rate Income Fund II (FCT) as of Q1 2021, down from 68 in Q4 2020.
  • Funds reported $101M of First Trust Senior Floating Rate Income Fund II stock for Q1 2021, down 12% quarter-over-quarter.
  • 5 funds opened new First Trust Senior Floating Rate Income Fund II positions in Q1 2021 and 10 closed out, a net change of -5 holders.
  • The largest First Trust Senior Floating Rate Income Fund II buyer in Q1 2021 was Morgan Stanley, an estimated $3.25M added.
  • The largest First Trust Senior Floating Rate Income Fund II seller in Q1 2021 was Saba Capital Management, an estimated $16M sold.

Based on aggregated 13F filings for Q1 2021.