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

BlackRock Floating Rate Income Trust (NYSE:BGT) was the recipient of a large growth in short interest in 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 daily volume of 135,793 shares, the short-interest ratio is presently 0.4 days. Based on an average daily volume of 135,793 shares, the short-interest ratio is presently 0.4 days.

Institutional Investors Weigh In On BlackRock Floating Rate Income Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Guggenheim Capital LLC lifted its position in BlackRock Floating Rate Income Trust by 15.7% during the second quarter. Guggenheim Capital LLC now owns 1,374,019 shares of the investment management company’s stock valued at $17,203,000 after buying an additional 186,748 shares during the period. Donoghue Forlines LLC bought a new position in shares of BlackRock Floating Rate Income Trust in the 3rd quarter worth about $11,418,000. Penserra Capital Management LLC purchased a new position in BlackRock Floating Rate Income Trust during the 3rd quarter valued at about $9,057,000. Ameriprise Financial Inc. lifted its position in BlackRock Floating Rate Income Trust by 25.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 510,947 shares of the investment management company’s stock valued at $6,208,000 after acquiring an additional 102,959 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in BlackRock Floating Rate Income Trust by 15.1% during the third quarter. Advisors Asset Management Inc. now owns 405,643 shares of the investment management company’s stock worth $4,929,000 after acquiring an additional 53,124 shares in the last quarter.

BlackRock Floating Rate Income Trust Price Performance

BGT stock opened at $11.45 on Friday. BlackRock Floating Rate Income Trust has a 1 year low of $10.21 and a 1 year high of $12.95. The firm has a 50-day moving average of $11.38 and a 200 day moving average of $11.89.

BlackRock Floating Rate Income Trust Announces Dividend

The company 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. This represents a c) dividend on an annualized basis and a dividend yield of 12.6%. The ex-dividend date is Friday, March 13th.

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.