BlackRock Floating Rate Income Trust (NYSE:BGT) Stock Crosses Above 50-Day Moving Average – What’s Next?

BlackRock Floating Rate Income Trust (NYSE:BGT)’s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $10.76 and traded as high as $10.87. BlackRock Floating Rate Income Trust shares last traded at $10.8160, with a volume of 169,612 shares.

BlackRock Floating Rate Income Trust Stock Up 0.4%

The stock has a fifty day moving average of $10.76 and a two-hundred day moving average of $10.85.

BlackRock Floating Rate Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.1203 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 13.1%. The ex-dividend date is Tuesday, September 15th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Readystate Asset Management LP bought a new stake in shares of BlackRock Floating Rate Income Trust in the 4th quarter valued at $5,003,000. Bank of America Corp DE bought a new position in BlackRock Floating Rate Income Trust during the second quarter worth $4,487,000. Cerity Partners LLC acquired a new position in BlackRock Floating Rate Income Trust in the fourth quarter valued at $2,483,000. Balyasny Asset Management L.P. lifted its holdings in BlackRock Floating Rate Income Trust by 942.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 211,230 shares of the investment management company’s stock valued at $2,393,000 after buying an additional 190,971 shares during the period. Finally, Wolverine Asset Management LLC acquired a new position in BlackRock Floating Rate Income Trust in the fourth quarter valued at $1,337,000.

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.