BlackRock Floating Rate Income Trust (NYSE:BGT) Share Price Crosses Below 200-Day Moving Average – Time to Sell?

BlackRock Floating Rate Income Trust (NYSE:BGT) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.13 and traded as low as $11.20. BlackRock Floating Rate Income Trust shares last traded at $11.24, with a volume of 146,569 shares traded.

BlackRock Floating Rate Income Trust Stock Down 0.2%

The company has a 50 day moving average of $11.59 and a 200 day moving average of $12.13.

BlackRock Floating Rate Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were given a $0.1203 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.8%. The ex-dividend date of this dividend was Friday, November 14th.

Institutional Trading of BlackRock Floating Rate Income Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in BGT. Rockefeller Capital Management L.P. boosted its stake in BlackRock Floating Rate Income Trust by 6.2% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 17,209 shares of the investment management company’s stock valued at $215,000 after acquiring an additional 1,009 shares during the last quarter. Invesco Ltd. raised its stake in shares of BlackRock Floating Rate Income Trust by 0.4% in the 3rd quarter. Invesco Ltd. now owns 347,858 shares of the investment management company’s stock valued at $4,226,000 after purchasing an additional 1,517 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of BlackRock Floating Rate Income Trust by 5.5% during the third quarter. Global Retirement Partners LLC now owns 32,593 shares of the investment management company’s stock worth $396,000 after purchasing an additional 1,696 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in BlackRock Floating Rate Income Trust in the third quarter worth about $26,000. Finally, Osaic Holdings Inc. increased its holdings in BlackRock Floating Rate Income Trust by 5.7% in the second quarter. Osaic Holdings Inc. now owns 58,029 shares of the investment management company’s stock valued at $727,000 after buying an additional 3,140 shares during the last quarter.

BlackRock Floating Rate Income Trust Company Profile

BlackRock Floating Rate Income Trust is a close ended fixed income mutual fund launched by BlackRoack Inc The fund is co-managed by BlackRock Advisors, LLC and BlackRock Financial Management, Inc It invests in the fixed income markets across the globe while focusing on the United States. The fund invests in bonds of companies operating across diversified sectors.