Short Interest in BlackRock Floating Rate Income Trust (NYSE:BGT) Expands By 15.7%

BlackRock Floating Rate Income Trust (NYSE:BGTGet Free Report) was the target of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 206,900 shares, an increase of 15.7% from the February 29th total of 178,900 shares. Based on an average trading volume of 108,000 shares, the short-interest ratio is presently 1.9 days.

BlackRock Floating Rate Income Trust Stock Performance

Shares of BGT remained flat at $13.11 during mid-day trading on Tuesday. 28,101 shares of the stock traded hands, compared to its average volume of 107,214. BlackRock Floating Rate Income Trust has a twelve month low of $10.95 and a twelve month high of $13.42. The company has a fifty day simple moving average of $12.82 and a 200 day simple moving average of $12.29.

BlackRock Floating Rate Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.12 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.44 dividend on an annualized basis and a yield of 10.98%.

Institutional Investors Weigh In On BlackRock Floating Rate Income Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James & Associates lifted its holdings in BlackRock Floating Rate Income Trust by 48.1% in the 1st quarter. Raymond James & Associates now owns 32,000 shares of the investment management company’s stock valued at $408,000 after purchasing an additional 10,400 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in BlackRock Floating Rate Income Trust by 10.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 28,705 shares of the investment management company’s stock valued at $366,000 after acquiring an additional 2,817 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of BlackRock Floating Rate Income Trust during the first quarter worth $149,000. UBS Group AG grew its position in shares of BlackRock Floating Rate Income Trust by 16.5% in the first quarter. UBS Group AG now owns 361,948 shares of the investment management company’s stock valued at $4,614,000 after purchasing an additional 51,296 shares during the period. Finally, Atria Wealth Solutions Inc. acquired a new position in BlackRock Floating Rate Income Trust in the first quarter valued at $252,000.

BlackRock Floating Rate Income Trust Company Profile

(Get Free Report)

BlackRock Floating Rate Income Trust is a close ended fixed income mutual fund launched by BlackRoack Inc The fund is co-managed by BlackRock Advisors, LLC and BlackRock Financial Management, Inc It invests in the fixed income markets across the globe while focusing on the United States. The fund invests in bonds of companies operating across diversified sectors.

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