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

BlackRock Floating Rate Income Trust (NYSE:BGT) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $11.32 and traded as low as $10.69. BlackRock Floating Rate Income Trust shares last traded at $10.7250, with a volume of 116,452 shares trading hands.

BlackRock Floating Rate Income Trust Price Performance

The firm has a 50-day simple moving average of $11.32 and a two-hundred day simple moving average of $11.63.

BlackRock Floating Rate Income Trust Dividend Announcement

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

Hedge Funds Weigh In On BlackRock Floating Rate Income Trust

Several hedge funds have recently bought and sold shares of the business. Donoghue Forlines LLC acquired a new position in BlackRock Floating Rate Income Trust in the 3rd quarter valued at $11,418,000. Penserra Capital Management LLC bought a new stake in BlackRock Floating Rate Income Trust during the third quarter valued at about $9,057,000. Readystate Asset Management LP bought a new stake in BlackRock Floating Rate Income Trust during the fourth quarter valued at about $5,003,000. Cerity Partners LLC acquired a new stake in shares of BlackRock Floating Rate Income Trust in the fourth quarter valued at about $2,483,000. Finally, Absolute Investment Advisers LLC acquired a new stake in shares of BlackRock Floating Rate Income Trust in the fourth quarter valued at about $2,276,000.

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.