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

BlackRock Floating Rate Income Trust (NYSE:BGTGet Rating) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totalling 8,000 shares, a growth of 263.6% from the April 30th total of 2,200 shares. Based on an average daily trading volume, of 99,100 shares, the days-to-cover ratio is currently 0.1 days.

Institutional investors have recently made changes to their positions in the stock. Guggenheim Capital LLC raised its stake in BlackRock Floating Rate Income Trust by 3.8% in the first quarter. Guggenheim Capital LLC now owns 485,043 shares of the investment management company’s stock valued at $6,184,000 after buying an additional 17,644 shares during the period. Bank of America Corp DE grew its holdings in BlackRock Floating Rate Income Trust by 4.7% during the 4th quarter. Bank of America Corp DE now owns 447,244 shares of the investment management company’s stock worth $6,257,000 after acquiring an additional 20,268 shares during the period. Morgan Stanley grew its stake in shares of BlackRock Floating Rate Income Trust by 21.2% in the 3rd quarter. Morgan Stanley now owns 443,465 shares of the investment management company’s stock valued at $5,889,000 after buying an additional 77,686 shares during the period. UBS Group AG lifted its position in shares of BlackRock Floating Rate Income Trust by 16.5% during the 1st quarter. UBS Group AG now owns 361,948 shares of the investment management company’s stock worth $4,614,000 after buying an additional 51,296 shares in the last quarter. Finally, Coastal Bridge Advisors LLC raised its holdings in shares of BlackRock Floating Rate Income Trust by 3.1% in the 4th quarter. Coastal Bridge Advisors LLC now owns 235,437 shares of the investment management company’s stock worth $3,294,000 after purchasing an additional 7,011 shares during the period.

Shares of BGT traded up $0.32 during midday trading on Thursday, reaching $11.45. 2,683 shares of the stock were exchanged, compared to its average volume of 98,890. The firm has a 50 day simple moving average of $12.04 and a 200-day simple moving average of $13.00. BlackRock Floating Rate Income Trust has a 12-month low of $10.98 and a 12-month high of $14.74.

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Monday, May 16th will be given a $0.065 dividend. The ex-dividend date of this dividend is Friday, May 13th. This represents a $0.78 annualized dividend and a yield of 6.81%.

BlackRock Floating Rate Income Trust Company Profile (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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