BlackRock Floating Rate Income Trust (NYSE:BGT) to Issue $0.12 Monthly Dividend

BlackRock Floating Rate Income Trust (NYSE:BGT) announced a monthly dividend on Thursday, September 10th. Shareholders of record on Friday, November 13th will be given a dividend of 0.1203 per share by the investment management company on Monday, November 30th. This represents a c) annualized dividend and a dividend yield of 13.2%. The ex-dividend date is Friday, November 13th.

BlackRock Floating Rate Income Trust Stock Down 0.5%

Shares of BGT opened at $10.97 on Friday. The firm’s 50 day simple moving average is $10.87 and its 200 day simple moving average is $10.83. BlackRock Floating Rate Income Trust has a 1-year low of $10.22 and a 1-year high of $12.44.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. bought a new position in shares of BlackRock Floating Rate Income Trust in the second quarter worth approximately $27,000. CoreCap Advisors LLC increased its position in BlackRock Floating Rate Income Trust by 100.0% during the 2nd quarter. CoreCap Advisors LLC now owns 2,600 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 1,300 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of 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 buying an additional 1,400 shares during the period. EFG International AG purchased a new position in shares of BlackRock Floating Rate Income Trust during the 4th quarter worth approximately $52,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of BlackRock Floating Rate Income Trust in the 1st quarter valued at approximately $60,000.

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.