BlackRock Floating Rate Income Trust (NYSE:BGT) Short Interest Up 130.8% in July

BlackRock Floating Rate Income Trust (NYSE:BGT) saw a significant increase in short interest during 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 short-interest ratio is presently 1.1 days.

Hedge Funds Weigh In On BlackRock Floating Rate Income Trust

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its stake in shares of BlackRock Floating Rate Income Trust by 12.0% in the first 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 last quarter. Cetera Investment Advisers bought a new position in BlackRock Floating Rate Income Trust during the 2nd quarter worth $232,000. Baird Financial Group Inc. raised 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 last quarter. Ausdal Financial Partners Inc. acquired a new position in BlackRock Floating Rate Income Trust during the 2nd quarter worth about $150,000. Finally, Jane Street Group LLC acquired a new position in BlackRock Floating Rate Income Trust during the 2nd quarter worth about $138,000.

BlackRock Floating Rate Income Trust Stock Performance

Shares of BlackRock Floating Rate Income Trust stock traded down $0.06 on Wednesday, hitting $10.74. The stock had a trading volume of 62,084 shares, compared to its average volume of 123,918. The stock has a 50 day moving average of $10.71 and a 200 day moving average of $10.94. BlackRock Floating Rate Income Trust has a twelve month low of $10.22 and a twelve month high of $12.75.

BlackRock Floating Rate Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.1203 dividend. This represents a c) annualized dividend and a yield of 13.4%. The ex-dividend date is Tuesday, September 15th.

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.