BlackRock Floating Rate Income Trust (NYSE:BGT) Shares Pass Below 200 Day Moving Average – What’s Next?

BlackRock Floating Rate Income Trust (NYSE:BGT) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.09 and traded as low as $10.68. BlackRock Floating Rate Income Trust shares last traded at $10.7540, with a volume of 178,589 shares trading hands.

BlackRock Floating Rate Income Trust Trading Up 0.6%

The company’s 50 day moving average price is $10.87 and its 200-day moving average price is $11.09.

BlackRock Floating Rate Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.1203 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 13.4%.

Institutional Trading of BlackRock Floating Rate Income Trust

A number of institutional investors have recently added to or reduced their stakes in BGT. Royal Bank of Canada boosted its position in BlackRock Floating Rate Income Trust by 12.0% during the 1st quarter. Royal Bank of Canada now owns 46,577 shares of the investment management company’s stock worth $578,000 after purchasing an additional 4,997 shares during the period. Cetera Investment Advisers purchased a new stake in BlackRock Floating Rate Income Trust during the 2nd quarter worth $232,000. Baird Financial Group Inc. boosted its position in BlackRock Floating Rate Income Trust by 33.2% during the 2nd quarter. Baird Financial Group Inc. now owns 160,791 shares of the investment management company’s stock worth $2,013,000 after purchasing an additional 40,096 shares during the period. Ausdal Financial Partners Inc. purchased a new stake in BlackRock Floating Rate Income Trust during the 2nd quarter worth $150,000. Finally, Jane Street Group LLC purchased a new stake in BlackRock Floating Rate Income Trust during the 2nd quarter worth $138,000.

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.