Short Interest in BlackRock Floating Rate Income Trust (NYSE:BGT) Declines By 36.5%

BlackRock Floating Rate Income Trust (NYSE:BGTGet Rating) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 19,700 shares, a decrease of 36.5% from the March 31st total of 31,000 shares. Based on an average daily trading volume, of 85,700 shares, the short-interest ratio is presently 0.2 days.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BGT. Kestra Advisory Services LLC bought a new stake in BlackRock Floating Rate Income Trust during the first quarter worth about $140,000. Wedbush Securities Inc. acquired a new stake in shares of BlackRock Floating Rate Income Trust in the fourth quarter valued at approximately $148,000. Citadel Advisors LLC acquired a new stake in shares of BlackRock Floating Rate Income Trust in the fourth quarter valued at approximately $179,000. Commonwealth Equity Services LLC lifted its position in shares of BlackRock Floating Rate Income Trust by 5.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 18,549 shares of the investment management company’s stock valued at $259,000 after buying an additional 893 shares during the last quarter. Finally, Hedges Asset Management LLC acquired a new stake in shares of BlackRock Floating Rate Income Trust in the fourth quarter valued at approximately $322,000.

BGT traded down $0.14 on Friday, hitting $11.81. 115,232 shares of the company were exchanged, compared to its average volume of 90,459. BlackRock Floating Rate Income Trust has a 12 month low of $11.80 and a 12 month high of $14.74. The stock’s fifty day moving average is $12.46 and its 200-day moving average is $13.28.

The business also recently announced a monthly dividend, which was paid on Friday, April 29th. Investors of record on Thursday, April 14th were issued a dividend of $0.065 per share. The ex-dividend date of this dividend was Wednesday, April 13th. This represents a $0.78 annualized dividend and a yield of 6.60%.

About BlackRock Floating Rate Income Trust (Get Rating)

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.

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