BlackRock Floating Rate Income Trust (NYSE:BGT) Plans Monthly Dividend of $0.12

BlackRock Floating Rate Income Trust (NYSE:BGT) announced a monthly dividend on Friday, June 5th. Stockholders of record on Friday, August 14th will be given a dividend of 0.1203 per share by the investment management company on Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 13.0%. The ex-dividend date is Friday, August 14th.

BlackRock Floating Rate Income Trust Price Performance

BGT opened at $11.07 on Wednesday. BlackRock Floating Rate Income Trust has a 12 month low of $10.22 and a 12 month high of $12.57. The business has a 50 day simple moving average of $10.72 and a 200-day simple moving average of $10.89.

Institutional Investors Weigh In On BlackRock Floating Rate Income Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of BGT. CoreCap Advisors LLC grew its stake in shares of BlackRock Floating Rate Income Trust by 100.0% during the 2nd quarter. CoreCap Advisors LLC now owns 2,600 shares of the investment management company’s stock worth $28,000 after purchasing an additional 1,300 shares during the period. Steward Partners Investment Advisory LLC lifted 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 valued at $36,000 after purchasing an additional 1,400 shares during the period. EFG International AG acquired a new stake in shares of BlackRock Floating Rate Income Trust in the fourth quarter valued at about $52,000. Cassaday & Co Wealth Management LLC purchased a new stake in BlackRock Floating Rate Income Trust during the first quarter worth about $60,000. Finally, Kestra Advisory Services LLC purchased a new stake in BlackRock Floating Rate Income Trust during the fourth quarter worth about $73,000.

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.