BlackRock Floating Rate Income Trust (NYSE:BGT) Stock Short Interest Report for October

BlackRock Floating Rate Income Trust (NYSE:BGT) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 177,738 shares, a drop of 58.5% from the September 30th total of 428,202 shares. Based on an average daily trading volume, of 168,951 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Trading of BlackRock Floating Rate Income Trust

A number of hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. bought a new stake in BlackRock Floating Rate Income Trust in the second quarter valued at about $27,000. CoreCap Advisors LLC lifted its stake in BlackRock Floating Rate Income Trust by 100.0% during the second quarter. CoreCap Advisors LLC now owns 2,600 shares of the investment management company’s stock worth $28,000 after purchasing an additional 1,300 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in BlackRock Floating Rate Income Trust during the first quarter valued at approximately $60,000. LaSalle St. Investment Advisors LLC acquired a new stake in BlackRock Floating Rate Income Trust during the second quarter valued at approximately $120,000. Finally, BlackRock Inc. bought a new stake in shares of BlackRock Floating Rate Income Trust in the 2nd quarter valued at approximately $140,000.

BlackRock Floating Rate Income Trust Stock Performance

BGT traded down $0.03 during trading on Friday, hitting $9.95. The stock had a trading volume of 181,002 shares, compared to its average volume of 130,662. BlackRock Floating Rate Income Trust has a 12 month low of $9.71 and a 12 month high of $11.95. The company has a 50 day simple moving average of $10.53 and a 200-day simple moving average of $10.83.

BlackRock Floating Rate Income Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be paid a dividend of $0.1203 per share. This represents a $1.44 annualized dividend and a yield of 14.5%. The ex-dividend date is Friday, December 11th.

BlackRock Floating Rate Income Trust Company Profile

BlackRock Floating Rate Income Trust is a closed-end management investment company listed on the New York Stock Exchange under the symbol BGT. The fund seeks to provide a high level of current income, with a secondary objective of capital appreciation.

The trust invests primarily in floating-rate loans and other floating-rate debt instruments, including senior secured corporate loans. These investments are generally made in below-investment-grade or unrated issuers and are designed to provide exposure to income-producing corporate credit while limiting sensitivity to changes in prevailing interest rates.

BlackRock Floating Rate Income Trust is managed by BlackRock Advisors, LLC, an affiliate of BlackRock, Inc The portfolio may invest in issuers across a range of industries and geographic markets, with an emphasis on the U.S.