Home / Business and Economy / Concorde Buys $3.31M Stake in Senior Loan Fund
Concorde Buys $3.31M Stake in Senior Loan Fund
2 Jun
Summary
- Concorde Asset Management purchased 73,167 shares on June 1, 2026.
- The new position is valued at approximately $3.31 million.
- The fund offers a 30-day SEC yield of 6.37% with low duration.
On June 1, 2026, Concorde Asset Management established a new investment in the First Trust Senior Loan Fund (FTSL). The firm acquired 73,167 shares, representing an estimated $3.31 million based on quarterly average pricing. This new stake now accounts for 1.61% of Concorde's total assets under management.
The First Trust Senior Loan Fund (FTSL) is an actively managed ETF with $2.3 billion in assets. It focuses on generating high current income through a diversified portfolio of first lien senior floating-rate bank loans, primarily to North American businesses. The fund aims for capital preservation and offers a 30-day SEC yield of 6.37% with an effective duration of only 0.62 years, making it attractive for investors seeking income and reduced sensitivity to interest rate changes.
This strategic addition complements Concorde's existing portfolio, which is heavily weighted towards broad-market ETFs like IVV, QQQ, and SPY. By investing in FTSL, Concorde appears to be diversifying its client portfolios, aiming to enhance income generation and mitigate interest rate risk. However, investors should note that senior loans carry risks, with a significant portion of FTSL's portfolio composed of below-investment-grade credits, and the ETF's price has seen a 2% decrease over the past year.
