Short Interest in BlackRock Floating Rate Income Trust (NYSE:BGT) Declines By 18.4%

BlackRock Floating Rate Income Trust (NYSE:BGT) was the recipient of a large decrease in short interest in December. As of December 31st, there was short interest totaling 27,233 shares, a decrease of 18.4% from the December 15th total of 33,387 shares. Based on an average daily volume of 213,014 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 213,014 shares, the short-interest ratio is currently 0.1 days.

BlackRock Floating Rate Income Trust Price Performance

NYSE BGT traded down $0.05 on Monday, hitting $11.60. 257,206 shares of the company traded hands, compared to its average volume of 146,782. The business’s 50 day moving average price is $11.36 and its 200-day moving average price is $11.96. BlackRock Floating Rate Income Trust has a 52-week low of $10.21 and a 52-week high of $12.95.

BlackRock Floating Rate Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a dividend of $0.1203 per share. This represents a c) dividend on an annualized basis and a dividend yield of 12.4%. The ex-dividend date of this dividend is Friday, March 13th.

Institutional Investors Weigh In On BlackRock Floating Rate Income Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BGT. Rockefeller Capital Management L.P. raised its stake in BlackRock Floating Rate Income Trust by 6.2% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 17,209 shares of the investment management company’s stock worth $215,000 after acquiring an additional 1,009 shares during the period. Invesco Ltd. increased its stake in shares of BlackRock Floating Rate Income Trust by 0.4% in the third quarter. Invesco Ltd. now owns 347,858 shares of the investment management company’s stock worth $4,226,000 after purchasing an additional 1,517 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of BlackRock Floating Rate Income Trust by 5.5% during the 3rd quarter. Global Retirement Partners LLC now owns 32,593 shares of the investment management company’s stock valued at $396,000 after purchasing an additional 1,696 shares during the period. Atlantic Union Bankshares Corp bought a new stake in shares of BlackRock Floating Rate Income Trust during the 3rd quarter valued at $26,000. Finally, Osaic Holdings Inc. lifted its stake in shares of BlackRock Floating Rate Income Trust by 5.7% during the 2nd quarter. Osaic Holdings Inc. now owns 58,029 shares of the investment management company’s stock valued at $727,000 after buying an additional 3,140 shares in the last quarter.

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.