BlackRock Floating Rate Income Trust (NYSE:BGT) Stock Crosses Below 50 Day Moving Average – What’s Next?

BlackRock Floating Rate Income Trust (NYSE:BGT)’s share price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $11.32 and traded as low as $10.69. BlackRock Floating Rate Income Trust shares last traded at $10.7250, with a volume of 116,452 shares trading hands.

BlackRock Floating Rate Income Trust Trading Up 0.1%

The business has a fifty day simple moving average of $11.30 and a 200 day simple moving average of $11.62.

BlackRock Floating Rate Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.1203 per share. This represents a c) annualized dividend and a dividend yield of 13.4%. The ex-dividend date of this dividend is Monday, June 15th.

Hedge Funds Weigh In On BlackRock Floating Rate Income Trust

A number of hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. increased its stake in BlackRock Floating Rate Income Trust by 6.2% during the second quarter. Rockefeller Capital Management L.P. now owns 17,209 shares of the investment management company’s stock valued at $215,000 after purchasing an additional 1,009 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of BlackRock Floating Rate Income Trust by 77.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,200 shares of the investment management company’s stock worth $36,000 after buying an additional 1,400 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of BlackRock Floating Rate Income Trust by 0.4% in the 3rd quarter. Invesco Ltd. now owns 347,858 shares of the investment management company’s stock valued at $4,226,000 after buying an additional 1,517 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of BlackRock Floating Rate Income Trust by 5.5% in the 3rd quarter. Global Retirement Partners LLC now owns 32,593 shares of the investment management company’s stock valued at $396,000 after buying an additional 1,696 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of BlackRock Floating Rate Income Trust during the 3rd quarter valued at about $26,000.

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.