First Trust Senior Floating Rate 2022 Target Term Fund (NYSE:FIV) Sees Significant Increase in Short Interest

First Trust Senior Floating Rate 2022 Target Term Fund (NYSE:FIV) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 17,500 shares, an increase of 525.0% from the September 15th total of 2,800 shares. Based on an average daily volume of 81,200 shares, the short-interest ratio is presently 0.2 days.

A number of hedge funds have recently modified their holdings of the stock. Rivernorth Capital Management LLC grew its position in First Trust Senior Floating Rate 2022 Target Term Fund by 27.7% during the 2nd quarter. Rivernorth Capital Management LLC now owns 1,434,279 shares of the company’s stock worth $13,654,000 after acquiring an additional 311,100 shares during the last quarter. Bank of America Corp DE grew its position in First Trust Senior Floating Rate 2022 Target Term Fund by 5.1% during the 2nd quarter. Bank of America Corp DE now owns 1,149,060 shares of the company’s stock worth $10,939,000 after acquiring an additional 55,663 shares during the last quarter. Biltmore Capital Advisors LLC grew its position in First Trust Senior Floating Rate 2022 Target Term Fund by 2.5% during the 2nd quarter. Biltmore Capital Advisors LLC now owns 644,516 shares of the company’s stock worth $6,136,000 after acquiring an additional 15,684 shares during the last quarter. Narwhal Capital Management grew its position in First Trust Senior Floating Rate 2022 Target Term Fund by 38.3% during the 2nd quarter. Narwhal Capital Management now owns 193,378 shares of the company’s stock worth $1,841,000 after acquiring an additional 53,587 shares during the last quarter. Finally, Millennium Management LLC grew its position in First Trust Senior Floating Rate 2022 Target Term Fund by 43.7% during the 1st quarter. Millennium Management LLC now owns 185,619 shares of the company’s stock worth $1,747,000 after acquiring an additional 56,423 shares during the last quarter.

FIV stock traded down $0.01 during midday trading on Thursday, reaching $9.66. 45,418 shares of the stock were exchanged, compared to its average volume of 82,368. First Trust Senior Floating Rate 2022 Target Term Fund has a 52 week low of $8.31 and a 52 week high of $9.68. The company has a fifty day moving average price of $9.60 and a 200 day moving average price of $9.51.

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 15th. Investors of record on Monday, October 4th will be given a dividend of $0.008 per share. The ex-dividend date is Friday, October 1st. This represents a $0.10 dividend on an annualized basis and a yield of 0.99%.

First Trust Senior Floating Rate 2022 Target Term Fund Company Profile

First Trust Senior Floating Rate 2022 Target Term Fund is a closed-ended fixed income mutual fund launched and managed by First Trust Advisors L.P. The fund invests in fixed income markets across the globe. It invests in senior loan of any maturity to create its portfolio. The fund employs bottom-up fundamental analysis to make its investments.

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