BlackRock Floating Rate Income Trust (NYSE:BGT) Sees Large Increase in Short Interest

BlackRock Floating Rate Income Trust (NYSE:BGT) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 60,300 shares, a growth of 38.6% from the January 31st total of 43,500 shares. Based on an average daily volume of 151,500 shares, the short-interest ratio is currently 0.4 days.

BlackRock Floating Rate Income Trust Stock Down 1.1 %

Shares of BGT traded down $0.14 during mid-day trading on Tuesday, reaching $12.66. The company had a trading volume of 126,992 shares, compared to its average volume of 114,781. BlackRock Floating Rate Income Trust has a 52-week low of $12.05 and a 52-week high of $13.97. The stock has a 50 day moving average of $12.71 and a two-hundred day moving average of $12.87.

BlackRock Floating Rate Income Trust Dividend Announcement

The business also recently announced a dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.1203 dividend. The ex-dividend date is Friday, March 14th.

Institutional Trading of BlackRock Floating Rate Income Trust

A number of hedge funds have recently modified their holdings of the stock. MML Investors Services LLC boosted its stake in shares of 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 worth $1,267,000 after buying an additional 1,626 shares during the last quarter. Elequin Capital LP purchased a new stake in shares of BlackRock Floating Rate Income Trust in the fourth quarter worth about $57,000. Graypoint LLC boosted its stake in shares of BlackRock Floating Rate Income Trust by 2.8% in the third quarter. Graypoint LLC now owns 189,418 shares of the investment management company’s stock worth $2,451,000 after buying an additional 5,206 shares during the last quarter. Horizon Kinetics Asset Management LLC boosted its stake in shares of BlackRock Floating Rate Income Trust by 56.0% in the third quarter. Horizon Kinetics Asset Management LLC now owns 19,778 shares of the investment management company’s stock worth $256,000 after buying an additional 7,100 shares during the last quarter. Finally, Virtus ETF Advisers LLC boosted its stake in shares of 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 worth $743,000 after buying an additional 8,485 shares during the last quarter.

About BlackRock Floating Rate Income Trust

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.