If you're talking about compression lugs they make lugs specifically for fine stranded conductors. We typically use them on battery rack terminations of fine stranded locomotive style cables.
Yes and no If it is a mechanical lug then you can use a ferrule on the conductors first, then you can install the.....ferrule under the lug. The same would be true for ordinary compression lugs as well, even though there are special compression lugs available for fine stranded wire.
"A wire Ferrule is a connector used to terminate stranded wires. A wire Ferrule is normally crimped to a stranded wire using a crimping tool (compression , ratchet or pneumatic mechanism), thus turning the stranded wire into a solid one."
There is a good article regarding the use of compression lugs (for fine stranded cables) located within the IAEI website. This is for large conductors (#00 Kcmil)