Absolute Investment Advisers LLC Acquires Shares of 198,426 BlackRock Floating Rate Income Trust $BGT

Absolute Investment Advisers LLC bought a new stake in shares of BlackRock Floating Rate Income Trust (NYSE:BGT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 198,426 shares of the investment management company’s stock, valued at approximately $2,276,000.

Other hedge funds have also recently made changes to their positions in the company. Atlantic Union Bankshares Corp purchased a new stake in BlackRock Floating Rate Income Trust in the third quarter worth $26,000. D.A. Davidson & CO. purchased a new stake in BlackRock Floating Rate Income Trust in the third quarter worth $126,000. Jane Street Group LLC purchased a new stake in BlackRock Floating Rate Income Trust in the second quarter worth $138,000. Ausdal Financial Partners Inc. purchased a new stake in BlackRock Floating Rate Income Trust in the second quarter worth $150,000. Finally, Cetera Investment Advisers purchased a new stake in BlackRock Floating Rate Income Trust in the second quarter worth $232,000.

BlackRock Floating Rate Income Trust Price Performance

NYSE BGT opened at $10.92 on Wednesday. BlackRock Floating Rate Income Trust has a 12 month low of $10.22 and a 12 month high of $12.76. The stock’s fifty day moving average price is $10.92 and its 200-day moving average price is $11.31.

BlackRock Floating Rate Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.1203 per share. This represents a c) dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date of this dividend is Monday, June 15th.

BlackRock Floating Rate Income Trust Company Profile

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.