BlackRock Floating Rate Income Trust (NYSE:BGT) Stock Price Crosses Above 50-Day Moving Average – Should You Sell?

BlackRock Floating Rate Income Trust (NYSE:BGT) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $10.70 and traded as high as $10.87. BlackRock Floating Rate Income Trust shares last traded at $10.84, with a volume of 156,513 shares changing hands.

BlackRock Floating Rate Income Trust Stock Performance

The business has a 50-day moving average price of $10.70 and a two-hundred day moving average price of $10.90.

BlackRock Floating Rate Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $0.1203 dividend. This represents a c) annualized dividend and a yield of 13.3%. The ex-dividend date is Tuesday, September 15th.

Institutional Investors Weigh In On BlackRock Floating Rate Income Trust

Several hedge funds have recently modified their holdings of BGT. CoreCap Advisors LLC boosted its stake in shares of 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 buying an additional 1,300 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of BlackRock Floating Rate Income Trust by 77.8% during 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 buying an additional 1,400 shares during the period. EFG International AG acquired a new stake in shares of BlackRock Floating Rate Income Trust during the fourth quarter worth $52,000. Cassaday & Co Wealth Management LLC acquired a new stake in BlackRock Floating Rate Income Trust in the 1st quarter worth about $60,000. Finally, Kestra Advisory Services LLC purchased a new stake in BlackRock Floating Rate Income Trust in the fourth quarter valued at approximately $73,000.

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.