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

BlackRock Floating Rate Income Trust (NYSE:BGT) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $10.76 and traded as low as $10.64. BlackRock Floating Rate Income Trust shares last traded at $10.6850, with a volume of 165,625 shares traded.

BlackRock Floating Rate Income Trust Stock Down 0.0%

The firm’s 50 day simple moving average is $10.76 and its 200 day simple moving average is $11.00.

BlackRock Floating Rate Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a $0.1203 dividend. This represents a c) annualized dividend and a yield of 13.5%. The ex-dividend date is Tuesday, September 15th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BGT. Guggenheim Capital LLC grew its stake in shares of BlackRock Floating Rate Income Trust by 1.8% in the fourth quarter. Guggenheim Capital LLC now owns 1,516,493 shares of the investment management company’s stock worth $17,182,000 after purchasing an additional 27,198 shares in the last quarter. LPL Financial LLC raised 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 purchasing an additional 58,423 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in BlackRock Floating Rate Income Trust by 25.2% in the third quarter. Ameriprise Financial Inc. now owns 510,947 shares of the investment management company’s stock worth $6,208,000 after purchasing an additional 102,959 shares during the period. Readystate Asset Management LP acquired a new stake in BlackRock Floating Rate Income Trust in the fourth quarter worth about $5,003,000. Finally, Invesco Ltd. grew its position in BlackRock Floating Rate Income Trust by 20.9% in the 4th quarter. Invesco Ltd. now owns 420,626 shares of the investment management company’s stock valued at $4,766,000 after buying an additional 72,768 shares in the last quarter.

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.