Wolverine Asset Management LLC Buys New Shares in BlackRock Floating Rate Income Trust $BGT

Wolverine Asset Management LLC bought a new stake in shares of BlackRock Floating Rate Income Trust (NYSE:BGT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 118,032 shares of the investment management company’s stock, valued at approximately $1,337,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its position in BlackRock Floating Rate Income Trust by 15.1% during the third quarter. Advisors Asset Management Inc. now owns 405,643 shares of the investment management company’s stock valued at $4,929,000 after purchasing an additional 53,124 shares in the last quarter. Donoghue Forlines LLC purchased a new position in BlackRock Floating Rate Income Trust during the third quarter valued at approximately $11,418,000. Byrne Asset Management LLC purchased a new position in BlackRock Floating Rate Income Trust during the fourth quarter valued at approximately $1,076,000. Absolute Investment Advisers LLC purchased a new position in BlackRock Floating Rate Income Trust during the fourth quarter valued at approximately $2,276,000. Finally, Penserra Capital Management LLC purchased a new position in BlackRock Floating Rate Income Trust during the third quarter valued at approximately $9,057,000.

BlackRock Floating Rate Income Trust Stock Up 0.5%

Shares of NYSE:BGT opened at $10.92 on Wednesday. BlackRock Floating Rate Income Trust has a 1-year low of $10.22 and a 1-year high of $12.76. The firm’s 50 day simple moving average is $10.85 and its two-hundred day simple moving average is $11.24.

BlackRock Floating Rate Income Trust Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a yield of 13.2%.

About BlackRock Floating Rate Income Trust

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.