First Trust Senior Floating Rate Income Fund II
FCT
60 hedge funds and large institutions have $124M invested in First Trust Senior Floating Rate Income Fund II in 2019 Q1 according to their latest regulatory filings, with 9 funds opening new positions, 21 increasing their positions, 20 reducing their positions, and 9 closing their positions.
15% more capital invested
Capital invested by funds: $108M → $124M (+$15.9M)
2.45% more ownership
Funds ownership: 36.77% → 39.22% (+2.5%)
5% more repeat investments, than reductions
Existing positions increased: 21 | Existing positions reduced: 20
0% more first-time investments, than exits
New positions opened: 9 | Existing positions closed: 9
3% less funds holding
Funds holding: 62 → 60 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
+$8.04M |
| 2 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$3.51M |
| 3 |
FEG
Financial Enhancement Group
Anderson,
Indiana
|
+$1.98M |
| 4 |
SFS
Shaker Financial Services
Arlington,
Virginia
|
+$1.27M |
| 5 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$1.19M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
-$6.52M |
| 2 |
PCM
Peak Capital Management
Greenwood Village,
Colorado
|
-$1.42M |
| 3 |
AAMU
Amundi Asset Management US
Boston,
Massachusetts
|
-$593K |
| 4 |
PPA
Parametric Portfolio Associates
Seattle,
Washington
|
-$503K |
| 5 |
FFA
First Foundation Advisors
Irvine,
California
|
-$499K |
FCT Hedge Fund Activity: Q1 2019 in Review
60 of the 4,621 institutional investors tracked by Wall St. Rank reported a position in First Trust Senior Floating Rate Income Fund II (FCT) for Q1 2019, worth a combined $124M — up 15% from $108M a quarter earlier.
Fund positioning in FCT was balanced in Q1 2019: 9 funds opened new positions, 9 closed out, 21 added to existing stakes and 20 trimmed.
The largest buyer was Saba Capital Management, adding an estimated $8.04M. The largest seller was Bank of America, cutting an estimated $6.52M.
- 60 institutional investors held First Trust Senior Floating Rate Income Fund II (FCT) as of Q1 2019, down from 62 in Q4 2018.
- Funds reported $124M of First Trust Senior Floating Rate Income Fund II stock for Q1 2019, up 15% quarter-over-quarter.
- 9 funds opened new First Trust Senior Floating Rate Income Fund II positions in Q1 2019 and 9 closed out, a net change of 0 holders.
- The largest First Trust Senior Floating Rate Income Fund II buyer in Q1 2019 was Saba Capital Management, an estimated $8.04M added.
- The largest First Trust Senior Floating Rate Income Fund II seller in Q1 2019 was Bank of America, an estimated $6.52M sold.
Based on aggregated 13F filings for Q1 2019.