BlackRock Floating Rate Income Trust (NYSE:BGT) Short Interest Update

BlackRock Floating Rate Income Trust (NYSE:BGT) saw a large decline in short interest in April. As of April 30th, there was short interest totaling 119,595 shares, a decline of 48.4% from the April 15th total of 231,618 shares. Based on an average daily volume of 106,332 shares, the short-interest ratio is presently 1.1 days.

BlackRock Floating Rate Income Trust Price Performance

BGT stock remained flat at $10.89 during midday trading on Monday. The company’s stock had a trading volume of 44,304 shares, compared to its average volume of 128,745. BlackRock Floating Rate Income Trust has a 1-year low of $10.22 and a 1-year high of $12.76. The business has a 50 day moving average price of $10.84 and a 200 day moving average price of $11.19.

BlackRock Floating Rate Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.1203 per share. This represents a c) annualized dividend and a yield of 13.3%. The ex-dividend date of this dividend is Monday, June 15th.

Institutional Trading of BlackRock Floating Rate Income Trust

Several hedge funds have recently bought and sold shares of the stock. Icon Advisers Inc. Co. boosted its holdings in shares of BlackRock Floating Rate Income Trust by 24.7% during the 1st quarter. Icon Advisers Inc. Co. now owns 103,027 shares of the investment management company’s stock valued at $1,109,000 after purchasing an additional 20,409 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in BlackRock Floating Rate Income Trust during the first quarter valued at approximately $60,000. Private Advisor Group LLC grew its holdings in BlackRock Floating Rate Income Trust by 7.0% during the 1st quarter. Private Advisor Group LLC now owns 21,731 shares of the investment management company’s stock valued at $234,000 after buying an additional 1,423 shares in the last quarter. Absolute Investment Advisers LLC increased its stake in BlackRock Floating Rate Income Trust by 32.2% in the 1st quarter. Absolute Investment Advisers LLC now owns 262,400 shares of the investment management company’s stock worth $2,823,000 after acquiring an additional 63,974 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of BlackRock Floating Rate Income Trust by 4.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 23,492 shares of the investment management company’s stock worth $253,000 after acquiring an additional 1,023 shares in the last quarter.

BlackRock Floating Rate Income Trust Company Profile

BlackRock Floating Rate Income Trust (NYSE: BGT) is a diversified, closed-end management investment company that seeks to generate current income by investing in floating rate debt instruments. Established and managed by BlackRock Advisors, the trust provides investors with exposure to senior secured loans, high-yield corporate debt, collateralized loan obligations (CLOs) and other floating rate credit products. By focusing on floating rate securities, the fund aims to offer protection against rising interest rates while pursuing consistent income generation.

The trust’s portfolio is constructed through an active, research-driven process led by a team of credit specialists within BlackRock’s Global Credit platform.