BlackRock Floating Rate Income Trust (NYSE:BGT) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

Shares of BlackRock Floating Rate Income Trust (NYSE:BGT) crossed 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 traded.

BlackRock Floating Rate Income Trust Stock Performance

The business has a 50-day moving average price of $10.70 and a 200-day moving average price of $10.91.

BlackRock Floating Rate Income Trust Announces Dividend

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 given a dividend of $0.1203 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 13.3%.

Institutional Trading of BlackRock Floating Rate Income Trust

Several institutional investors have recently modified their holdings of BGT. CoreCap Advisors LLC raised its position in shares of BlackRock Floating Rate Income Trust by 100.0% during the 2nd quarter. CoreCap Advisors LLC now owns 2,600 shares of the investment management company’s stock worth $28,000 after purchasing an additional 1,300 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in BlackRock Floating Rate Income Trust by 77.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,200 shares of the investment management company’s stock worth $36,000 after buying an additional 1,400 shares during the last quarter. EFG International AG acquired a new stake in BlackRock Floating Rate Income Trust in the 4th quarter worth about $52,000. Cassaday & Co Wealth Management LLC purchased a new stake in BlackRock Floating Rate Income Trust during the 1st quarter worth approximately $60,000. Finally, Kestra Advisory Services LLC purchased a new stake in BlackRock Floating Rate Income Trust during the 4th quarter worth approximately $73,000.

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.