BlackRock Floating Rate Income Trust (NYSE:BGT) Short Interest Down 50.5% in June

BlackRock Floating Rate Income Trust (NYSE:BGT) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 42,946 shares, a drop of 50.5% from the June 15th total of 86,793 shares. Based on an average daily trading volume, of 111,218 shares, the short-interest ratio is currently 0.4 days.

Institutional Trading of BlackRock Floating Rate Income Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of BlackRock Floating Rate Income Trust by 12.0% in the 1st quarter. Royal Bank of Canada now owns 46,577 shares of the investment management company’s stock valued at $578,000 after purchasing an additional 4,997 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of BlackRock Floating Rate Income Trust during the second quarter worth approximately $232,000. Baird Financial Group Inc. lifted its holdings in BlackRock Floating Rate Income Trust by 33.2% in the second quarter. Baird Financial Group Inc. now owns 160,791 shares of the investment management company’s stock valued at $2,013,000 after buying an additional 40,096 shares during the period. Ausdal Financial Partners Inc. acquired a new position in BlackRock Floating Rate Income Trust in the second quarter valued at approximately $150,000. Finally, Jane Street Group LLC bought a new position in BlackRock Floating Rate Income Trust in the second quarter valued at approximately $138,000.

BlackRock Floating Rate Income Trust Trading Down 1.1%

Shares of BGT stock traded down $0.11 on Wednesday, reaching $10.67. 46,221 shares of the stock were exchanged, compared to its average volume of 122,294. BlackRock Floating Rate Income Trust has a one year low of $10.22 and a one year high of $12.75. The stock has a 50 day moving average price of $10.75 and a 200 day moving average price of $10.99.

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 given a $0.1203 dividend. This represents a c) dividend on an annualized basis and a yield of 13.5%. The ex-dividend date is Tuesday, September 15th.

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.