BlackRock Floating Rate Income Trust (NYSE:BGT) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

BlackRock Floating Rate Income Trust (NYSE:BGT) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.96 and traded as low as $10.67. BlackRock Floating Rate Income Trust shares last traded at $10.8650, with a volume of 421,703 shares trading hands.

BlackRock Floating Rate Income Trust Stock Performance

The stock’s 50-day moving average price is $10.72 and its two-hundred day moving average price is $10.96.

BlackRock Floating Rate Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.1203 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 13.3%.

Hedge Funds Weigh In On BlackRock Floating Rate Income Trust

Several institutional investors and hedge funds have recently bought and sold shares of BGT. CoreCap Advisors LLC increased its holdings in BlackRock Floating Rate Income Trust by 100.0% in the 2nd quarter. CoreCap Advisors LLC now owns 2,600 shares of the investment management company’s stock worth $28,000 after acquiring an additional 1,300 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in BlackRock Floating Rate Income Trust by 77.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,200 shares of the investment management company’s stock valued at $36,000 after purchasing an additional 1,400 shares during the last quarter. EFG International AG purchased a new stake in BlackRock Floating Rate Income Trust during the fourth quarter valued at about $52,000. Cassaday & Co Wealth Management LLC bought a new position in BlackRock Floating Rate Income Trust during the first quarter worth about $60,000. Finally, Kestra Advisory Services LLC bought a new position in BlackRock Floating Rate Income Trust during the fourth quarter worth about $73,000.

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.