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

BlackRock Floating Rate Income Trust (NYSE:BGT) saw a large growth in short interest in July. As of July 15th, there was short interest totaling 99,122 shares, a growth of 130.8% from the June 30th total of 42,946 shares. Based on an average daily volume of 92,787 shares, the short-interest ratio is presently 1.1 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. CoreCap Advisors LLC increased its holdings in 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 valued at $28,000 after purchasing an additional 1,300 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in BlackRock Floating Rate Income Trust by 77.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,200 shares of the investment management company’s stock worth $36,000 after purchasing an additional 1,400 shares in the last quarter. EFG International AG acquired a new position in BlackRock Floating Rate Income Trust in the fourth quarter worth $52,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of BlackRock Floating Rate Income Trust during the first quarter worth $60,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of BlackRock Floating Rate Income Trust in the fourth quarter valued at $73,000.

BlackRock Floating Rate Income Trust Price Performance

NYSE:BGT traded down $0.04 on Tuesday, reaching $10.82. The stock had a trading volume of 10,958 shares, compared to its average volume of 123,567. BlackRock Floating Rate Income Trust has a 1-year low of $10.22 and a 1-year high of $12.75. The stock has a fifty day moving average price of $10.71 and a 200-day moving average price of $10.95.

BlackRock Floating Rate Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.1203 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 13.3%.

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.