BlackRock Floating Rate Income Trust (NYSE:BGT) Short Interest Down 48.4% in April

BlackRock Floating Rate Income Trust (NYSE:BGT) was the target of a large drop in short interest in April. As of April 30th, there was short interest totaling 119,595 shares, a drop of 48.4% from the April 15th total of 231,618 shares. Based on an average daily volume of 106,332 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Atlantic Union Bankshares Corp purchased a new stake in shares of BlackRock Floating Rate Income Trust during the 3rd quarter valued at approximately $26,000. Steward Partners Investment Advisory LLC raised its position in shares of BlackRock Floating Rate Income Trust by 77.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,200 shares of the investment management company’s stock valued at $36,000 after buying an additional 1,400 shares during the period. EFG International AG purchased a new stake in shares of BlackRock Floating Rate Income Trust during the 4th quarter valued at approximately $52,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of BlackRock Floating Rate Income Trust during the 1st quarter valued at approximately $60,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of BlackRock Floating Rate Income Trust during the 4th quarter valued at approximately $73,000.

BlackRock Floating Rate Income Trust Trading Down 1.3%

BGT traded down $0.15 during trading on Friday, reaching $10.91. The company’s stock had a trading volume of 87,970 shares, compared to its average volume of 129,666. The firm has a fifty day simple moving average of $10.84 and a two-hundred day simple moving average of $11.19. BlackRock Floating Rate Income Trust has a 1 year low of $10.22 and a 1 year high of $12.76.

BlackRock Floating Rate Income Trust Dividend Announcement

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