Wolverine Asset Management LLC Takes $1.34 Million Position in BlackRock Floating Rate Income Trust $BGT

Wolverine Asset Management LLC purchased a new stake in shares of BlackRock Floating Rate Income Trust (NYSE:BGT) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 118,032 shares of the investment management company’s stock, valued at approximately $1,337,000.

Other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its holdings in shares of BlackRock Floating Rate Income Trust by 15.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 405,643 shares of the investment management company’s stock valued at $4,929,000 after acquiring an additional 53,124 shares during the last quarter. Donoghue Forlines LLC purchased a new stake in shares of BlackRock Floating Rate Income Trust during the 3rd quarter valued at about $11,418,000. Byrne Asset Management LLC purchased a new stake in shares of BlackRock Floating Rate Income Trust during the 4th quarter valued at about $1,076,000. Absolute Investment Advisers LLC purchased a new position in shares of BlackRock Floating Rate Income Trust in the 4th quarter worth $2,276,000. Finally, Shaker Financial Services LLC purchased a new position in shares of BlackRock Floating Rate Income Trust in the 4th quarter worth $565,000.

BlackRock Floating Rate Income Trust Stock Performance

BGT stock opened at $10.92 on Wednesday. BlackRock Floating Rate Income Trust has a 1 year low of $10.22 and a 1 year high of $12.76. The stock’s fifty day moving average price is $10.85 and its 200-day moving average price is $11.24.

BlackRock Floating Rate Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.1203 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date is Monday, June 15th.

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.