BlackRock Floating Rate Income Trust (NYSE:BGT) Short Interest Up 97.5% in July

BlackRock Floating Rate Income Trust (NYSE:BGT) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 195,738 shares, a growth of 97.5% from the July 15th total of 99,122 shares. Based on an average daily trading volume, of 142,068 shares, the days-to-cover ratio is presently 1.4 days.

Hedge Funds Weigh In On BlackRock Floating Rate Income Trust

Hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. purchased a new position in shares of BlackRock Floating Rate Income Trust during the 2nd quarter worth $27,000. CoreCap Advisors LLC boosted its stake in BlackRock Floating Rate Income Trust by 100.0% in the 2nd quarter. CoreCap Advisors LLC now owns 2,600 shares of the investment management company’s stock worth $28,000 after buying an additional 1,300 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in BlackRock Floating Rate Income Trust by 77.8% in the 4th 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 acquired a new position in shares of BlackRock Floating Rate Income Trust during the 4th quarter valued at about $52,000. Finally, Cassaday & Co Wealth Management LLC acquired a new position in shares of BlackRock Floating Rate Income Trust during the 1st quarter valued at about $60,000.

BlackRock Floating Rate Income Trust Stock Performance

BGT stock traded down $0.17 during midday trading on Friday, hitting $10.87. 75,634 shares of the stock were exchanged, compared to its average volume of 124,188. BlackRock Floating Rate Income Trust has a fifty-two week low of $10.22 and a fifty-two week high of $12.55. The stock’s 50-day moving average price is $10.73 and its 200-day moving average price is $10.89.

BlackRock Floating Rate Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.1203 per share. This represents a c) annualized dividend and a yield of 13.3%. The ex-dividend date is Tuesday, September 15th.

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.