BlackRock Floating Rate Income Trust (NYSE:BGT) Short Interest Update

BlackRock Floating Rate Income Trust (NYSE:BGT) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 99,122 shares, an increase of 130.8% from the June 30th total of 42,946 shares. Based on an average daily volume of 92,787 shares, the days-to-cover ratio is presently 1.1 days.

BlackRock Floating Rate Income Trust Stock Down 0.0%

BGT traded down $0.01 during trading on Thursday, reaching $10.74. 127,240 shares of the company’s stock were exchanged, compared to its average volume of 123,941. BlackRock Floating Rate Income Trust has a fifty-two week low of $10.22 and a fifty-two week high of $12.75. The business has a 50 day moving average price of $10.71 and a 200 day moving average price of $10.94.

BlackRock Floating Rate Income Trust Dividend Announcement

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

Institutional Trading of BlackRock Floating Rate Income Trust

Several institutional investors have recently made changes to their positions in the business. CoreCap Advisors LLC raised its position 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 in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in BlackRock Floating Rate Income Trust by 77.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,200 shares of the investment management company’s stock valued at $36,000 after purchasing an additional 1,400 shares in the last quarter. EFG International AG bought a new stake in shares of BlackRock Floating Rate Income Trust in the 4th quarter valued at approximately $52,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of BlackRock Floating Rate Income Trust in the 1st quarter valued at approximately $60,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of BlackRock Floating Rate Income Trust in the 4th quarter worth approximately $73,000.

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.