Short Interest in BlackRock Floating Rate Income Trust (NYSE:BGT) Decreases By 48.4%

BlackRock Floating Rate Income Trust (NYSE:BGT) was the target of a large decline in short interest during the month of April. As of April 30th, there was short interest totaling 119,595 shares, a decline of 48.4% from the April 15th total of 231,618 shares. Based on an average daily volume of 106,332 shares, the short-interest ratio is presently 1.1 days.

BlackRock Floating Rate Income Trust Price Performance

Shares of NYSE BGT traded down $0.15 during trading hours on Friday, hitting $10.91. 87,970 shares of the company’s stock were exchanged, compared to its average volume of 129,666. BlackRock Floating Rate Income Trust has a 1-year low of $10.22 and a 1-year high of $12.76. The company’s 50-day moving average price is $10.84 and its 200-day moving average price is $11.20.

BlackRock Floating Rate Income Trust Announces Dividend

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

Hedge Funds Weigh In On BlackRock Floating Rate Income Trust

Several large investors have recently made changes to their positions in BGT. Donoghue Forlines LLC acquired a new position in shares of BlackRock Floating Rate Income Trust during the 3rd quarter worth about $11,418,000. Penserra Capital Management LLC acquired a new position in BlackRock Floating Rate Income Trust in the 3rd quarter valued at approximately $9,057,000. Readystate Asset Management LP acquired a new position in BlackRock Floating Rate Income Trust in the 4th quarter valued at approximately $5,003,000. Cerity Partners LLC acquired a new position in BlackRock Floating Rate Income Trust in the 4th quarter valued at approximately $2,483,000. Finally, Absolute Investment Advisers LLC acquired a new position in BlackRock Floating Rate Income Trust in the 4th quarter valued at approximately $2,276,000.

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.