Short Interest in BlackRock Floating Rate Income Trust (NYSE:BGT) Declines By 18.4%

BlackRock Floating Rate Income Trust (NYSE:BGT) saw a large drop in short interest in December. As of December 31st, there was short interest totaling 27,233 shares, a drop of 18.4% from the December 15th total of 33,387 shares. Based on an average daily trading volume, of 213,014 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 213,014 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On BlackRock Floating Rate Income Trust

A number of large investors have recently added to or reduced their stakes in the stock. Guggenheim Capital LLC lifted its holdings in shares of BlackRock Floating Rate Income Trust by 15.7% during the 2nd quarter. Guggenheim Capital LLC now owns 1,374,019 shares of the investment management company’s stock valued at $17,203,000 after buying an additional 186,748 shares during the period. Donoghue Forlines LLC purchased a new stake in BlackRock Floating Rate Income Trust during the third quarter valued at $11,418,000. Penserra Capital Management LLC purchased a new stake in BlackRock Floating Rate Income Trust during the third quarter valued at $9,057,000. Ameriprise Financial Inc. lifted its holdings in BlackRock Floating Rate Income Trust by 25.2% in the third quarter. Ameriprise Financial Inc. now owns 510,947 shares of the investment management company’s stock valued at $6,208,000 after acquiring an additional 102,959 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in BlackRock Floating Rate Income Trust by 15.1% in the third quarter. Advisors Asset Management Inc. now owns 405,643 shares of the investment management company’s stock worth $4,929,000 after purchasing an additional 53,124 shares during the last quarter.

BlackRock Floating Rate Income Trust Price Performance

BGT traded down $0.05 during midday trading on Monday, hitting $11.60. 257,206 shares of the company traded hands, compared to its average volume of 146,782. The company’s 50-day moving average is $11.36 and its 200 day moving average is $11.96. BlackRock Floating Rate Income Trust has a 52 week low of $10.21 and a 52 week high of $12.95.

BlackRock Floating Rate Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a dividend of $0.1203 per share. The ex-dividend date is Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 12.4%.

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.