BlackRock Floating Rate Income Trust (NYSE:BGT – Get Free Report) announced a monthly dividend on Friday, June 5th. Shareholders of record on Friday, August 14th will be paid a dividend of 0.1203 per share by the investment management company on Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 13.1%. The ex-dividend date of this dividend is Friday, August 14th.
BlackRock Floating Rate Income Trust Stock Down 0.3%
NYSE:BGT opened at $11.05 on Wednesday. BlackRock Floating Rate Income Trust has a fifty-two week low of $10.22 and a fifty-two week high of $12.57. The firm’s fifty day simple moving average is $10.72 and its 200-day simple moving average is $10.89.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in BGT. Janney Montgomery Scott LLC boosted its holdings in shares of BlackRock Floating Rate Income Trust by 4.6% during the first quarter. Janney Montgomery Scott LLC now owns 23,492 shares of the investment management company’s stock worth $253,000 after purchasing an additional 1,023 shares during the last quarter. CoreCap Advisors LLC increased its stake in BlackRock Floating Rate Income Trust by 100.0% in the second quarter. CoreCap Advisors LLC now owns 2,600 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 1,300 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in BlackRock Floating Rate Income Trust by 77.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,200 shares of the investment management company’s stock valued at $36,000 after purchasing an additional 1,400 shares during the last quarter. Private Advisor Group LLC boosted its stake in BlackRock Floating Rate Income Trust by 7.0% in the 1st quarter. Private Advisor Group LLC now owns 21,731 shares of the investment management company’s stock worth $234,000 after buying an additional 1,423 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in 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.
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.
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