BlackRock Floating Rate Income Trust (NYSE:BGT) Stock Passes Below 50-Day Moving Average – Should You Sell?

BlackRock Floating Rate Income Trust (NYSE:BGT) shares crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $11.24 and traded as low as $10.68. BlackRock Floating Rate Income Trust shares last traded at $10.76, with a volume of 100,467 shares traded.

BlackRock Floating Rate Income Trust Stock Up 0.1%

The company’s fifty day moving average is $11.21 and its 200 day moving average is $11.54.

BlackRock Floating Rate Income Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.1203 per share. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 13.4%.

Institutional Trading of BlackRock Floating Rate Income Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in BGT. Donoghue Forlines LLC bought a new position in BlackRock Floating Rate Income Trust in the 3rd quarter worth about $11,418,000. Penserra Capital Management LLC purchased a new stake in shares of BlackRock Floating Rate Income Trust in the third quarter worth about $9,057,000. Readystate Asset Management LP bought a new position in shares of BlackRock Floating Rate Income Trust in the fourth quarter valued at approximately $5,003,000. Cerity Partners LLC bought a new position in shares of BlackRock Floating Rate Income Trust in the fourth quarter valued at approximately $2,483,000. Finally, Absolute Investment Advisers LLC purchased a new position in BlackRock Floating Rate Income Trust during the fourth quarter valued at approximately $2,276,000.

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.