BlackRock Floating Rate Income Trust (NYSE:BGT) Stock Crosses Below 50 Day Moving Average – Should You Sell?

BlackRock Floating Rate Income Trust (NYSE:BGT) shares crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $10.76 and traded as low as $10.64. BlackRock Floating Rate Income Trust shares last traded at $10.6850, with a volume of 165,625 shares changing hands.

BlackRock Floating Rate Income Trust Price Performance

The stock has a 50-day moving average of $10.76 and a 200-day moving average of $11.00.

BlackRock Floating Rate Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.1203 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 13.5%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. CoreCap Advisors LLC raised its stake in BlackRock Floating Rate Income Trust by 100.0% in the second quarter. CoreCap Advisors LLC now owns 2,600 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 1,300 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in BlackRock Floating Rate Income Trust by 77.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,200 shares of the investment management company’s stock worth $36,000 after buying an additional 1,400 shares in the last quarter. EFG International AG purchased a new position in BlackRock Floating Rate Income Trust in the 4th quarter worth approximately $52,000. Cassaday & Co Wealth Management LLC bought a new position in shares of BlackRock Floating Rate Income Trust in the 1st quarter worth $60,000. Finally, Kestra Advisory Services LLC bought a new position in shares of BlackRock Floating Rate Income Trust in the 4th quarter worth $73,000.

About BlackRock Floating Rate Income Trust

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.