BlackRock Floating Rate Income Trust (NYSE:BGT) Short Interest Down 50.5% in June

BlackRock Floating Rate Income Trust (NYSE:BGT) was the recipient of a significant decline in short interest in June. As of June 30th, there was short interest totaling 42,946 shares, a decline of 50.5% from the June 15th total of 86,793 shares. Based on an average daily volume of 111,218 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of BlackRock Floating Rate Income Trust

Several large investors have recently bought and sold shares of BGT. Shaker Financial Services LLC acquired a new position in shares of BlackRock Floating Rate Income Trust during the 4th quarter worth approximately $565,000. Byrne Asset Management LLC purchased a new stake in shares of BlackRock Floating Rate Income Trust in the fourth quarter valued at approximately $1,076,000. Absolute Investment Advisers LLC acquired a new stake in shares of BlackRock Floating Rate Income Trust in the fourth quarter valued at approximately $2,276,000. Wolverine Asset Management LLC acquired a new stake in shares of BlackRock Floating Rate Income Trust in the fourth quarter valued at approximately $1,337,000. Finally, Virtu Financial LLC purchased a new position in BlackRock Floating Rate Income Trust during the fourth quarter worth approximately $206,000.

BlackRock Floating Rate Income Trust Stock Down 1.2%

NYSE BGT traded down $0.12 during mid-day trading on Friday, hitting $10.61. The stock had a trading volume of 140,204 shares, compared to its average volume of 122,184. The firm’s 50 day moving average is $10.74 and its 200 day moving average is $10.98. BlackRock Floating Rate Income Trust has a twelve month low of $10.22 and a twelve month high of $12.75.

BlackRock Floating Rate Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.1203 dividend. This represents a c) annualized dividend and a dividend yield of 13.6%. The ex-dividend date of this dividend 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.