BlackRock Floating Rate Income Trust (NYSE:BGT) Short Interest Update

BlackRock Floating Rate Income Trust (NYSE:BGT) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 80,000 shares, an increase of 14.9% from the August 15th total of 69,600 shares. Based on an average daily trading volume, of 91,000 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Investors Weigh In On BlackRock Floating Rate Income Trust

Hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates raised its holdings in shares of BlackRock Floating Rate Income Trust by 48.1% during the 1st quarter. Raymond James & Associates now owns 32,000 shares of the investment management company’s stock valued at $408,000 after buying an additional 10,400 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in BlackRock Floating Rate Income Trust by 10.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 28,705 shares of the investment management company’s stock valued at $366,000 after acquiring an additional 2,817 shares during the last quarter. Private Advisor Group LLC bought a new position in BlackRock Floating Rate Income Trust during the first quarter valued at approximately $149,000. UBS Group AG raised its stake in shares of BlackRock Floating Rate Income Trust by 16.5% during the first quarter. UBS Group AG now owns 361,948 shares of the investment management company’s stock worth $4,614,000 after acquiring an additional 51,296 shares in the last quarter. Finally, Atria Wealth Solutions Inc. bought a new stake in shares of BlackRock Floating Rate Income Trust in the 1st quarter worth approximately $252,000.

BlackRock Floating Rate Income Trust Stock Performance

Shares of NYSE:BGT traded up $0.06 on Tuesday, hitting $12.05. The company’s stock had a trading volume of 49,268 shares, compared to its average volume of 87,466. The company has a 50-day simple moving average of $11.88 and a 200 day simple moving average of $11.50. BlackRock Floating Rate Income Trust has a 1 year low of $10.56 and a 1 year high of $12.32.

BlackRock Floating Rate Income Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.114 dividend. The ex-dividend date is Thursday, September 14th. This is a positive change from BlackRock Floating Rate Income Trust’s previous monthly dividend of $0.11. This represents a $1.37 annualized dividend and a yield of 11.35%.

BlackRock Floating Rate Income Trust Company Profile

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.