BlackRock Floating Rate Income Trust (NYSE:BGT) Short Interest Down 50.5% in June

BlackRock Floating Rate Income Trust (NYSE:BGT) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 42,946 shares, a drop 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 presently 0.4 days.

Institutional Investors Weigh In On BlackRock Floating Rate Income Trust

Several hedge funds have recently bought and sold shares of BGT. CoreCap Advisors LLC raised its holdings 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 worth $28,000 after purchasing an additional 1,300 shares during the period. Arkadios Wealth Advisors acquired a new position in shares of BlackRock Floating Rate Income Trust in the 1st quarter valued at $141,000. Icon Advisers Inc. Co. increased its position in shares of BlackRock Floating Rate Income Trust by 24.7% in the 1st quarter. Icon Advisers Inc. Co. now owns 103,027 shares of the investment management company’s stock valued at $1,109,000 after buying an additional 20,409 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of BlackRock Floating Rate Income Trust in the 1st quarter valued at $60,000. Finally, Private Advisor Group LLC increased its position in shares of BlackRock Floating Rate Income Trust by 7.0% in the 1st quarter. Private Advisor Group LLC now owns 21,731 shares of the investment management company’s stock valued at $234,000 after buying an additional 1,423 shares in the last quarter.

BlackRock Floating Rate Income Trust Stock Performance

Shares of BGT stock traded down $0.11 on Wednesday, reaching $10.67. The company had a trading volume of 46,221 shares, compared to its average volume of 122,294. The company has a 50-day moving average of $10.75 and a 200-day moving average of $10.99. BlackRock Floating Rate Income Trust has a 12 month low of $10.22 and a 12 month high of $12.75.

BlackRock Floating Rate Income Trust Announces Dividend

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

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.