BlackRock Floating Rate Income Trust (NYSE:BGT) Short Interest Up 97.5% in July

BlackRock Floating Rate Income Trust (NYSE:BGT) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 195,738 shares, an increase of 97.5% from the July 15th total of 99,122 shares. Based on an average daily volume of 142,068 shares, the short-interest ratio is presently 1.4 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Readystate Asset Management LP purchased a new position in BlackRock Floating Rate Income Trust during the fourth quarter valued at $5,003,000. Bank of America Corp DE purchased a new stake in shares of BlackRock Floating Rate Income Trust in the 2nd quarter worth about $4,487,000. Cerity Partners LLC purchased a new stake in shares of BlackRock Floating Rate Income Trust in the 4th quarter worth about $2,483,000. Absolute Investment Advisers LLC bought a new position in shares of BlackRock Floating Rate Income Trust in the 4th quarter worth about $2,276,000. Finally, Balyasny Asset Management L.P. increased its stake in shares of BlackRock Floating Rate Income Trust by 942.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 211,230 shares of the investment management company’s stock worth $2,393,000 after acquiring an additional 190,971 shares in the last quarter.

BlackRock Floating Rate Income Trust Trading Up 0.8%

Shares of NYSE BGT opened at $10.95 on Tuesday. BlackRock Floating Rate Income Trust has a 1 year low of $10.22 and a 1 year high of $12.55. The company’s 50-day moving average is $10.74 and its 200 day moving average is $10.88.

BlackRock Floating Rate Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.1203 per share. This represents a c) annualized dividend and a yield of 13.2%. 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.