Short Interest in BlackRock Floating Rate Income Trust (NYSE:BGT) Decreases By 48.4%

BlackRock Floating Rate Income Trust (NYSE:BGT) saw a large decrease in short interest in April. As of April 30th, there was short interest totaling 119,595 shares, a decrease of 48.4% from the April 15th total of 231,618 shares. Based on an average trading volume of 106,332 shares, the days-to-cover ratio is currently 1.1 days.

BlackRock Floating Rate Income Trust Stock Performance

Shares of BGT traded down $0.15 during trading hours on Friday, hitting $10.91. 87,970 shares of the company were exchanged, compared to its average volume of 129,666. The firm’s 50 day moving average is $10.84 and its 200-day moving average is $11.20. BlackRock Floating Rate Income Trust has a 52 week low of $10.22 and a 52 week high of $12.76.

BlackRock Floating Rate Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.1203 per share. This represents a c) annualized dividend and a dividend yield of 13.2%. The ex-dividend date is Monday, June 15th.

Institutional Trading of BlackRock Floating Rate Income Trust

Several large investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC boosted its stake in shares of BlackRock Floating Rate Income Trust by 4.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 23,492 shares of the investment management company’s stock worth $253,000 after acquiring an additional 1,023 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake 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 acquiring an additional 1,400 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of BlackRock Floating Rate Income Trust by 7.0% during the 1st quarter. Private Advisor Group LLC now owns 21,731 shares of the investment management company’s stock worth $234,000 after purchasing an additional 1,423 shares during the last quarter. Invesco Ltd. lifted its position in shares of BlackRock Floating Rate Income Trust by 0.4% during the 3rd 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 during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of BlackRock Floating Rate Income Trust during the 3rd quarter worth about $26,000.

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.