BlackRock Floating Rate Income Trust (NYSE:BGT) Short Interest Update

BlackRock Floating Rate Income Trust (NYSE:BGT) was the recipient of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 53,100 shares, a drop of 20.7% from the February 28th total of 67,000 shares. Based on an average trading volume of 150,900 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On BlackRock Floating Rate Income Trust

Institutional investors have recently added to or reduced their stakes in the business. Elequin Capital LP acquired a new stake in shares of BlackRock Floating Rate Income Trust during the 4th quarter worth approximately $57,000. Cary Street Partners Financial LLC acquired a new stake in BlackRock Floating Rate Income Trust in the fourth quarter worth $129,000. Virtus ETF Advisers LLC increased its stake in BlackRock Floating Rate Income Trust by 17.2% in the fourth quarter. Virtus ETF Advisers LLC now owns 57,814 shares of the investment management company’s stock valued at $743,000 after purchasing an additional 8,485 shares in the last quarter. MML Investors Services LLC increased its stake in BlackRock Floating Rate Income Trust by 1.7% in the fourth quarter. MML Investors Services LLC now owns 98,517 shares of the investment management company’s stock valued at $1,267,000 after purchasing an additional 1,626 shares in the last quarter. Finally, Guggenheim Capital LLC raised its holdings in shares of BlackRock Floating Rate Income Trust by 38.7% during the fourth quarter. Guggenheim Capital LLC now owns 981,677 shares of the investment management company’s stock valued at $12,624,000 after purchasing an additional 273,835 shares during the period.

BlackRock Floating Rate Income Trust Price Performance

BGT stock opened at $12.44 on Monday. The stock has a 50-day moving average price of $12.60 and a 200-day moving average price of $12.83. BlackRock Floating Rate Income Trust has a 1-year low of $12.05 and a 1-year high of $13.97.

BlackRock Floating Rate Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.1203 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.44 dividend on an annualized basis and a yield of 11.61%.

BlackRock Floating Rate Income Trust Company Profile

BlackRock Floating Rate Income Trust is a close ended fixed income mutual fund launched by BlackRoack Inc The fund is co-managed by BlackRock Advisors, LLC and BlackRock Financial Management, Inc It invests in the fixed income markets across the globe while focusing on the United States. The fund invests in bonds of companies operating across diversified sectors.