BlackRock Floating Rate Income Trust (NYSE:BGT) Sees Significant Growth in Short Interest

BlackRock Floating Rate Income Trust (NYSE:BGT) was the target of a large growth in short interest in 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 days-to-cover ratio is currently 1.4 days.

Institutional Trading of BlackRock Floating Rate Income Trust

Several institutional investors and hedge funds have recently modified their holdings of BGT. Northwestern Mutual Wealth Management Co. acquired a new position in shares of BlackRock Floating Rate Income Trust in the second quarter valued at approximately $27,000. CoreCap Advisors LLC lifted its stake in shares of 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 valued at $28,000 after buying an additional 1,300 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of BlackRock Floating Rate Income Trust by 77.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,200 shares of the investment management company’s stock worth $36,000 after purchasing an additional 1,400 shares during the last quarter. EFG International AG purchased a new position in BlackRock Floating Rate Income Trust during the 4th quarter worth $52,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of BlackRock Floating Rate Income Trust during the 1st quarter worth approximately $60,000.

BlackRock Floating Rate Income Trust Trading Up 0.8%

BlackRock Floating Rate Income Trust stock traded up $0.09 during trading hours on Monday, reaching $10.95. 152,495 shares of the stock were exchanged, compared to its average volume of 124,257. The stock has a 50 day moving average of $10.73 and a two-hundred day moving average of $10.88. BlackRock Floating Rate Income Trust has a twelve month low of $10.22 and a twelve month high of $12.55.

BlackRock Floating Rate Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.1203 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date of this dividend is Tuesday, September 15th.

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.