BlackRock Floating Rate Income Trust (NYSE:BGT) Sees Significant Increase in Short Interest

BlackRock Floating Rate Income Trust (NYSE:BGT) was the recipient of a significant increase in short interest in July. As of July 31st, there was short interest totalling 217,800 shares, an increase of 591.4% from the July 15th total of 31,500 shares. Based on an average daily trading volume, of 111,200 shares, the short-interest ratio is presently 2.0 days.

Hedge Funds Weigh In On BlackRock Floating Rate Income Trust

Large investors have recently modified their holdings of the stock. Principal Securities Inc. acquired a new position in BlackRock Floating Rate Income Trust in the fourth quarter valued at approximately $29,000. Avantax Advisory Services Inc. acquired a new position in BlackRock Floating Rate Income Trust in the fourth quarter valued at approximately $206,000. MONECO Advisors LLC acquired a new position in BlackRock Floating Rate Income Trust in the fourth quarter valued at approximately $218,000. Conning Inc. lifted its holdings in BlackRock Floating Rate Income Trust by 3.9% in the fourth quarter. Conning Inc. now owns 25,307 shares of the investment management company’s stock valued at $313,000 after buying an additional 949 shares during the period. Finally, Global Retirement Partners LLC acquired a new position in BlackRock Floating Rate Income Trust in the first quarter valued at approximately $513,000.

BlackRock Floating Rate Income Trust Price Performance

Shares of BGT stock traded down $0.07 during trading hours on Monday, reaching $12.82. 104,297 shares of the company were exchanged, compared to its average volume of 106,077. BlackRock Floating Rate Income Trust has a fifty-two week low of $11.23 and a fifty-two week high of $13.97. The stock’s fifty day moving average is $12.95 and its two-hundred day moving average is $12.94.

BlackRock Floating Rate Income Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.23%.

BlackRock Floating Rate Income Trust Company Profile

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.