Short Interest in BlackRock Floating Rate Income Trust (NYSE:BGT) Rises By 42.9%

BlackRock Floating Rate Income Trust (NYSE:BGT) was the target of a large increase in short interest in February. As of February 13th, there was short interest totaling 124,780 shares, an increase of 42.9% from the January 29th total of 87,335 shares. Based on an average daily trading volume, of 141,021 shares, the short-interest ratio is presently 0.9 days. Based on an average daily trading volume, of 141,021 shares, the short-interest ratio is presently 0.9 days.

Institutional Investors Weigh In On BlackRock Floating Rate Income Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in BGT. Advisors Asset Management Inc. increased its position in shares of BlackRock Floating Rate Income Trust by 15.1% in the third quarter. Advisors Asset Management Inc. now owns 405,643 shares of the investment management company’s stock valued at $4,929,000 after acquiring an additional 53,124 shares during the last quarter. Guggenheim Capital LLC grew its stake in BlackRock Floating Rate Income Trust by 15.7% during the second quarter. Guggenheim Capital LLC now owns 1,374,019 shares of the investment management company’s stock worth $17,203,000 after buying an additional 186,748 shares in the last quarter. Donoghue Forlines LLC bought a new position in shares of BlackRock Floating Rate Income Trust in the 3rd quarter valued at $11,418,000. Global Retirement Partners LLC acquired a new position in BlackRock Floating Rate Income Trust during the 2nd quarter worth approximately $387,000. Finally, Penserra Capital Management LLC acquired a new position in BlackRock Floating Rate Income Trust in the 3rd quarter worth about $9,057,000.

BlackRock Floating Rate Income Trust Stock Down 0.7%

NYSE BGT traded down $0.08 during trading hours on Friday, reaching $11.02. 153,617 shares of the company’s stock were exchanged, compared to its average volume of 137,654. BlackRock Floating Rate Income Trust has a one year low of $10.21 and a one year high of $12.95. The firm has a fifty day moving average of $11.39 and a 200-day moving average of $11.71.

BlackRock Floating Rate Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.1203 dividend. This represents a c) annualized dividend and a dividend yield of 13.1%. The ex-dividend date of this dividend is Friday, March 13th.

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.