Short Interest in BlackRock Floating Rate Income Trust (NYSE:BGT) Declines By 24.3%

BlackRock Floating Rate Income Trust (NYSE:BGT) was the recipient of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 48,700 shares, a decrease of 24.3% from the April 30th total of 64,300 shares. Based on an average daily trading volume, of 131,700 shares, the short-interest ratio is currently 0.4 days.

Hedge Funds Weigh In On BlackRock Floating Rate Income Trust

Several large investors have recently added to or reduced their stakes in BGT. Avantax Advisory Services Inc. increased its holdings in BlackRock Floating Rate Income Trust by 4.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 34,403 shares of the investment management company’s stock worth $427,000 after purchasing an additional 1,398 shares in the last quarter. MML Investors Services LLC boosted its holdings in BlackRock Floating Rate Income Trust by 1.7% during the 4th quarter. MML Investors Services LLC now owns 98,517 shares of the investment management company’s stock worth $1,267,000 after acquiring an additional 1,626 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in BlackRock Floating Rate Income Trust by 14.8% during the first quarter. Janney Montgomery Scott LLC now owns 24,028 shares of the investment management company’s stock worth $298,000 after purchasing an additional 3,089 shares during the last quarter. Elequin Capital LP bought a new position in shares of BlackRock Floating Rate Income Trust during the 4th quarter worth approximately $57,000. Finally, Royal Bank of Canada lifted its holdings in BlackRock Floating Rate Income Trust by 12.0% during the first quarter. Royal Bank of Canada now owns 46,577 shares of the investment management company’s stock worth $578,000 after acquiring an additional 4,997 shares during the period.

BlackRock Floating Rate Income Trust Stock Down 0.2%

BlackRock Floating Rate Income Trust stock opened at $12.33 on Wednesday. The firm’s fifty day moving average price is $12.04 and its two-hundred day moving average price is $12.52. BlackRock Floating Rate Income Trust has a 1-year low of $10.21 and a 1-year high of $13.59.

BlackRock Floating Rate Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were issued a $0.1203 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.71%.

About BlackRock Floating Rate Income Trust

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.