BlackRock Floating Rate Income Trust (NYSE:BGT) Stock Passes Above 50-Day Moving Average – What’s Next?

BlackRock Floating Rate Income Trust (NYSE:BGT)’s stock price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $11.36 and traded as high as $11.67. BlackRock Floating Rate Income Trust shares last traded at $11.6250, with a volume of 90,198 shares changing hands.

BlackRock Floating Rate Income Trust Price Performance

The stock has a 50-day moving average of $11.36 and a 200 day moving average of $11.96.

BlackRock Floating Rate Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a $0.1203 dividend. This represents a c) annualized dividend and a yield of 12.4%. The ex-dividend date of this dividend is Friday, March 13th.

Institutional Trading of BlackRock Floating Rate Income Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Atlantic Union Bankshares Corp bought a new position in BlackRock Floating Rate Income Trust in the third quarter valued at approximately $26,000. Trust Co. of Toledo NA OH bought a new stake in BlackRock Floating Rate Income Trust during the second quarter worth $49,000. D.A. Davidson & CO. acquired a new stake in shares of BlackRock Floating Rate Income Trust in the 3rd quarter valued at $126,000. Jane Street Group LLC acquired a new stake in shares of BlackRock Floating Rate Income Trust in the 2nd quarter valued at $138,000. Finally, Ausdal Financial Partners Inc. bought a new position in shares of BlackRock Floating Rate Income Trust in the 2nd quarter valued at $150,000.

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.