BlackRock Floating Rate Income Trust (NYSE:BGT) Sees Significant Drop in Short Interest

BlackRock Floating Rate Income Trust (NYSE:BGT) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 42,946 shares, a decline of 50.5% from the June 15th total of 86,793 shares. Based on an average daily trading volume, of 111,218 shares, the short-interest ratio is currently 0.4 days.

Institutional Investors Weigh In On BlackRock Floating Rate Income Trust

Several institutional investors have recently modified their holdings of the stock. Shaker Financial Services LLC purchased a new stake in shares of BlackRock Floating Rate Income Trust in the fourth quarter valued at $565,000. Byrne Asset Management LLC bought a new stake in shares of BlackRock Floating Rate Income Trust in the 4th quarter worth about $1,076,000. Absolute Investment Advisers LLC purchased a new position in shares of BlackRock Floating Rate Income Trust during the 4th quarter worth about $2,276,000. Wolverine Asset Management LLC purchased a new position in shares of BlackRock Floating Rate Income Trust during the 4th quarter worth about $1,337,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in BlackRock Floating Rate Income Trust during the 1st quarter valued at about $60,000.

BlackRock Floating Rate Income Trust Stock Up 0.5%

Shares of NYSE BGT traded up $0.05 during mid-day trading on Thursday, hitting $10.72. 89,636 shares of the company’s stock traded hands, compared to its average volume of 122,050. The company’s 50-day moving average is $10.74 and its two-hundred day moving average is $10.98. BlackRock Floating Rate Income Trust has a 1 year low of $10.22 and a 1 year high of $12.75.

BlackRock Floating Rate Income Trust Announces Dividend

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

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.