BlackRock Floating Rate Income Trust (NYSE:BGT) Stock Passes Above 50 Day Moving Average – Here’s What Happened

BlackRock Floating Rate Income Trust (NYSE:BGT)’s stock price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $10.98 and traded as high as $11.15. BlackRock Floating Rate Income Trust shares last traded at $11.0540, with a volume of 170,162 shares traded.

BlackRock Floating Rate Income Trust Stock Down 0.8%

The stock’s 50 day moving average is $10.98 and its 200 day moving average is $11.37.

BlackRock Floating Rate Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.1203 per share. This represents a c) annualized dividend and a yield of 13.1%. The ex-dividend date is Monday, June 15th.

Hedge Funds Weigh In On BlackRock Floating Rate Income Trust

Several hedge funds have recently added to or reduced their stakes in the business. Guggenheim Capital LLC increased its holdings in BlackRock Floating Rate Income Trust by 1.8% during the 4th quarter. Guggenheim Capital LLC now owns 1,516,493 shares of the investment management company’s stock valued at $17,182,000 after acquiring an additional 27,198 shares in the last quarter. Donoghue Forlines LLC acquired a new stake in shares of BlackRock Floating Rate Income Trust during the third quarter valued at $11,418,000. LPL Financial LLC boosted its stake in shares of BlackRock Floating Rate Income Trust by 8.3% during the fourth quarter. LPL Financial LLC now owns 761,509 shares of the investment management company’s stock valued at $8,628,000 after acquiring an additional 58,423 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of BlackRock Floating Rate Income Trust during the third quarter valued at $9,057,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of BlackRock Floating Rate Income Trust by 25.2% during the third quarter. Ameriprise Financial Inc. now owns 510,947 shares of the investment management company’s stock valued at $6,208,000 after acquiring an additional 102,959 shares during the last quarter.

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.