Short Interest in BlackRock Floating Rate Income Trust (NYSE:BGT) Expands By 105.3%

by · The Markets Daily

BlackRock Floating Rate Income Trust (NYSE:BGT – Get Free Report) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 55,909 shares, a growth of 105.3% from the December 31st total of 27,233 shares. Based on an average trading volume of 135,793 shares, the days-to-cover ratio is presently 0.4 days. Based on an average trading volume of 135,793 shares, the days-to-cover ratio is presently 0.4 days.

BlackRock Floating Rate Income Trust Stock Performance

Shares of BGT stock traded down $0.04 on Friday, hitting $11.44. The stock had a trading volume of 64,250 shares, compared to its average volume of 139,272. The business has a 50 day moving average of $11.38 and a 200 day moving average of $11.90. BlackRock Floating Rate Income Trust has a 12-month low of $10.21 and a 12-month high of $12.95.

BlackRock Floating Rate Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a dividend of $0.1203 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 12.6%.

Hedge Funds Weigh In On BlackRock Floating Rate Income Trust

Several institutional investors have recently modified their holdings of the business. Atlantic Union Bankshares Corp bought a new stake in shares of BlackRock Floating Rate Income Trust in the third quarter valued at approximately $26,000. Trust Co. of Toledo NA OH purchased a new position in BlackRock Floating Rate Income Trust in the 2nd quarter valued at approximately $49,000. D.A. Davidson & CO. purchased a new position in BlackRock Floating Rate Income Trust in the 3rd quarter valued at approximately $126,000. Jane Street Group LLC bought a new stake in BlackRock Floating Rate Income Trust during the 2nd quarter valued at $138,000. Finally, Ausdal Financial Partners Inc. purchased a new stake in shares of BlackRock Floating Rate Income Trust during the second quarter worth $150,000.

BlackRock Floating Rate Income Trust Company Profile

(Get Free Report)

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.

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