Short Interest in BlackRock Floating Rate Income Trust (NYSE:BGT) Grows By 105.3%

BlackRock Floating Rate Income Trust (NYSE:BGT) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 55,909 shares, an increase of 105.3% from the December 31st total of 27,233 shares. Based on an average daily trading volume, of 135,793 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily trading volume, of 135,793 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of BlackRock Floating Rate Income Trust

Institutional investors have recently made changes to their positions in the stock. Guggenheim Capital LLC grew its stake in shares of BlackRock Floating Rate Income Trust by 15.7% in the second quarter. Guggenheim Capital LLC now owns 1,374,019 shares of the investment management company’s stock worth $17,203,000 after acquiring an additional 186,748 shares during the period. Donoghue Forlines LLC purchased a new stake in BlackRock Floating Rate Income Trust in the third quarter worth approximately $11,418,000. Penserra Capital Management LLC bought a new stake in BlackRock Floating Rate Income Trust in the 3rd quarter worth approximately $9,057,000. Ameriprise Financial Inc. grew its position in BlackRock Floating Rate Income Trust by 25.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 510,947 shares of the investment management company’s stock worth $6,208,000 after purchasing an additional 102,959 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in BlackRock Floating Rate Income Trust by 15.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 405,643 shares of the investment management company’s stock valued at $4,929,000 after buying an additional 53,124 shares during the last quarter.

BlackRock Floating Rate Income Trust Trading Down 0.2%

Shares of BGT opened at $11.45 on Friday. The business’s fifty day simple moving average is $11.38 and its two-hundred day simple moving average is $11.89. BlackRock Floating Rate Income Trust has a 12 month low of $10.21 and a 12 month high of $12.95.

BlackRock Floating Rate Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a $0.1203 dividend. This represents a c) annualized dividend and a yield of 12.6%. The ex-dividend date is Friday, March 13th.

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.