BlackRock Floating Rate Income Trust (NYSE:BGT) Shares Cross Above 50 Day Moving Average – Time to Sell?

BlackRock Floating Rate Income Trust (NYSE:BGT)’s stock price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $10.98 and traded as high as $11.15. BlackRock Floating Rate Income Trust shares last traded at $11.0540, with a volume of 170,162 shares.

BlackRock Floating Rate Income Trust Stock Down 0.8%

The stock’s fifty day moving average is $10.98 and its two-hundred day moving average is $11.38.

BlackRock Floating Rate Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.1203 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 13.1%. The ex-dividend date of this dividend is Monday, June 15th.

Hedge Funds Weigh In On BlackRock Floating Rate Income Trust

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in BlackRock Floating Rate Income Trust during the fourth quarter valued at about $206,000. Invesco Ltd. lifted its holdings in BlackRock Floating Rate Income Trust by 20.9% during the fourth quarter. Invesco Ltd. now owns 420,626 shares of the investment management company’s stock valued at $4,766,000 after purchasing an additional 72,768 shares during the last quarter. Readystate Asset Management LP purchased a new stake in BlackRock Floating Rate Income Trust during the fourth quarter valued at about $5,003,000. Balyasny Asset Management L.P. lifted its holdings in BlackRock Floating Rate Income Trust by 942.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 211,230 shares of the investment management company’s stock valued at $2,393,000 after purchasing an additional 190,971 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its holdings in BlackRock Floating Rate Income Trust by 1.8% during the fourth quarter. Guggenheim Capital LLC now owns 1,516,493 shares of the investment management company’s stock valued at $17,182,000 after purchasing an additional 27,198 shares during the last quarter.

About BlackRock Floating Rate Income Trust

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.