BlackRock Floating Rate Income Trust (NYSE:BGT) Short Interest Up 97.5% in July

BlackRock Floating Rate Income Trust (NYSE:BGT) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 195,738 shares, a growth of 97.5% from the July 15th total of 99,122 shares. Based on an average daily volume of 142,068 shares, the short-interest ratio is currently 1.4 days.

BlackRock Floating Rate Income Trust Price Performance

Shares of BGT traded down $0.17 during midday trading on Friday, hitting $10.87. The company had a trading volume of 75,634 shares, compared to its average volume of 124,188. The company’s 50 day moving average price is $10.73 and its 200 day moving average price is $10.89. BlackRock Floating Rate Income Trust has a 52 week low of $10.22 and a 52 week high of $12.55.

BlackRock Floating Rate Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.1203 per share. This represents a c) annualized dividend and a dividend yield of 13.3%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BGT. Northwestern Mutual Wealth Management Co. acquired a new position in shares of BlackRock Floating Rate Income Trust during the second quarter valued at $27,000. CoreCap Advisors LLC increased its stake in BlackRock Floating Rate Income Trust by 100.0% during the 2nd quarter. CoreCap Advisors LLC now owns 2,600 shares of the investment management company’s stock valued at $28,000 after buying an additional 1,300 shares during the period. Steward Partners Investment Advisory LLC raised its position in shares of BlackRock Floating Rate Income Trust by 77.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,200 shares of the investment management company’s stock worth $36,000 after buying an additional 1,400 shares in the last quarter. EFG International AG acquired a new stake in shares of BlackRock Floating Rate Income Trust in the 4th quarter worth approximately $52,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of BlackRock Floating Rate Income Trust in the first quarter valued at approximately $60,000.

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.