Short Interest in BlackRock Floating Rate Income Trust (NYSE:BGT) Rises By 42.9%
by Sarita Garza · The Markets DailyBlackRock Floating Rate Income Trust (NYSE:BGT – Get Free Report) was the target of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 124,780 shares, an increase of 42.9% from the January 29th total of 87,335 shares. Based on an average daily volume of 141,021 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily volume of 141,021 shares, the days-to-cover ratio is presently 0.9 days.
BlackRock Floating Rate Income Trust Stock Down 0.7%
BGT stock traded down $0.08 during midday trading on Friday, hitting $11.02. The company’s stock had a trading volume of 153,617 shares, compared to its average volume of 137,654. The stock’s 50-day moving average price is $11.39 and its 200 day moving average price is $11.71. BlackRock Floating Rate Income Trust has a 1 year low of $10.21 and a 1 year high of $12.95.
BlackRock Floating Rate Income Trust Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.1203 dividend. The ex-dividend date is Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 13.1%.
Institutional Trading of BlackRock Floating Rate Income Trust
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. increased its holdings in shares of BlackRock Floating Rate Income Trust by 6.2% in the second quarter. Rockefeller Capital Management L.P. now owns 17,209 shares of the investment management company’s stock worth $215,000 after buying an additional 1,009 shares during the period. Steward Partners Investment Advisory LLC lifted its position in shares of BlackRock Floating Rate Income Trust by 77.8% in the 4th 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 period. Invesco Ltd. lifted its holdings in BlackRock Floating Rate Income Trust by 0.4% in the third quarter. Invesco Ltd. now owns 347,858 shares of the investment management company’s stock worth $4,226,000 after buying an additional 1,517 shares during the period. Global Retirement Partners LLC boosted its position in BlackRock Floating Rate Income Trust by 5.5% during the 3rd quarter. Global Retirement Partners LLC now owns 32,593 shares of the investment management company’s stock valued at $396,000 after acquiring an additional 1,696 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of BlackRock Floating Rate Income Trust during the 3rd quarter worth approximately $26,000.
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.