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Farther Finance Advisors LLC Increases Position in First Trust Senior Loan ETF $FTSL
Farther Finance Advisors LLC grew its holdings in shares of First Trust Senior Loan ETF (NASDAQ: FTSL) by 3,002.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,153 shares of the company's stock after buying an additional 21,439 shares during the quarter.
FTSL: In Case The Fed Keeps Rates Here
Floating rate bank loans, like those in the First Trust Senior Loan Fund (FTSL), are attractive in a high-interest-rate environment due to their high yield and risk/return profile. FTSL is actively managed, allowing it to capitalize on market mispricings and adapt to changing conditions better than passive funds. The fund is well-diversified with 222 positions, a 30-Day SEC Yield of 7.76%, and a weighted effective duration of 0.58 years.
FTSL: Senior Loan ETF, Good Dividend Yield, Below-Average Performance, And High Expense Ratio
FTSL is a simple senior loan ETF, with an above-average 7.7% dividend yield. Senior loans were one of the best-performing income investments of 2022 and 2023, with FTSL outperforming most of its peers. Outperformance has diminished these past few months. Fed hikes and narrow credit spreads could pressure senior loans and FTSL further.
First Trust Senior Loan ETF Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| TJD Thomas John Drogan PR Inc.IPAL SECURITIES Inc. | 14,609 | $670,001.69 | $656,455.41 | -$13,546.28 | -2.02% |
| CE Curtis Ellergodt Rothschild Investment LLC | 361 | $16,631 | $16,221.53 | -$409.47 | -2.46% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 107,168 | $4.89M | $4.82M | -$77,613.15 | -1.59% |
| PP Philip Perry FLAGSTAR ADVISORS Inc. | 66,935 | $3.08M | $3.01M | -$69,213.45 | -2.25% |
| JTK Joel T. Koehneman CNO Financial Group Inc. | 252,000 | $11.53M | $11.32M | -$208,220 | -1.81% |
First Trust Senior Loan ETF (FTSL) FAQ
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First Trust Senior Loan ETF Profile
| NASDAQ (NMS) Exchange | US Country |
Overview
The company operates in the financial sector, specializing in investment management with a focus on Senior Loans. It targets its investments towards first lien senior floating rate bank loans, dedicating at least 80% of its net assets, which includes investment borrowings, to this financial instrument. The firm has a geographic focus on North America for the majority of its investments but remains open to opportunities involving businesses outside of this region as well. This approach reflects the company's strategy to exploit the benefits offered by Senior Loans, such as secured returns and floating interest rates, which can provide a hedge against inflation.
Products and Services
- First Lien Senior Floating Rate Bank Loans Investment
This service is the cornerstone of the company's offerings, involving investments in first lien senior floating rate bank loans, commonly referred to as "Senior Loans". These are typically secured loans that take precedence over other debts in the event of a borrower's default and have interest rates that float over a base rate. They offer investors protection against rate hikes and a relatively secure position in the borrower's capital structure. The company commits at least 80% of its net assets, including borrowed funds, to this type of investment, focusing on loans made to businesses primarily operating in North America.
- Global Senior Loans Investment
While the firm focuses predominantly on the North American market, it also extends its investment horizon to include Senior Loans made to businesses operating outside of North America. This diversification allows the company to seize global opportunities and manage geographic risks. Investments in global Senior Loans are selected based on the same criteria of securing positions and floating rate interests, aiming to benefit from different regional economic cycles and interest rate environments.
