BlackRock Floating Rate Income Trust (NYSE:BGT) Stock Short Interest Declines 79.2%

BlackRock Floating Rate Income Trust (NYSE:BGT) was the recipient of a large decline in short interest in the month of October. As of October 30th, there was short interest totaling 36,899 shares, a decline of 79.2% from the October 15th total of 177,738 shares. Based on an average trading volume of 182,662 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On BlackRock Floating Rate Income Trust

Several hedge funds and other institutional investors have recently made changes to their positions in BGT. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of BlackRock Floating Rate Income Trust during the 2nd quarter valued at about $27,000. CoreCap Advisors LLC boosted its holdings in BlackRock Floating Rate Income Trust by 100.0% in the 2nd quarter. CoreCap Advisors LLC now owns 2,600 shares of the investment management company’s stock worth $28,000 after acquiring an additional 1,300 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in BlackRock Floating Rate Income Trust in the first quarter valued at approximately $60,000. LaSalle St. Investment Advisors LLC acquired a new stake in BlackRock Floating Rate Income Trust in the second quarter valued at approximately $120,000. Finally, BlackRock Inc. acquired a new stake in BlackRock Floating Rate Income Trust in the second quarter valued at approximately $140,000.

BlackRock Floating Rate Income Trust Trading Down 0.4%

Shares of BGT stock traded down $0.04 during trading hours on Thursday, hitting $10.08. 99,135 shares of the company were exchanged, compared to its average volume of 133,142. BlackRock Floating Rate Income Trust has a 1 year low of $9.71 and a 1 year high of $11.67. The firm has a fifty day moving average of $10.37 and a 200 day moving average of $10.76.

BlackRock Floating Rate Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be issued a $0.1203 dividend. The ex-dividend date is Friday, December 11th. This represents a $1.44 annualized dividend and a yield of 14.3%.

About BlackRock Floating Rate Income Trust

BlackRock Floating Rate Income Trust is a closed-end management investment company listed on the New York Stock Exchange under the symbol BGT. The fund seeks to provide a high level of current income, with a secondary objective of capital appreciation. The trust invests primarily in floating-rate loans and other floating-rate debt instruments, including senior secured corporate loans. These investments are generally made in below-investment-grade or unrated issuers and are designed to provide exposure to income-producing corporate credit while limiting sensitivity to changes in prevailing interest rates.