BlackRock Floating Rate Income Trust (NYSE:BGT) Share Price Passes Below 200 Day Moving Average – Time to Sell?

BlackRock Floating Rate Income Trust (NYSE:BGT)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.15 and traded as low as $10.81. BlackRock Floating Rate Income Trust shares last traded at $10.8350, with a volume of 56,224 shares changing hands.

BlackRock Floating Rate Income Trust Stock Performance

The business’s fifty day moving average price is $10.85 and its two-hundred day moving average price is $11.15.

BlackRock Floating Rate Income Trust Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BGT. Advisors Asset Management Inc. grew its position in BlackRock Floating Rate Income Trust by 15.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 405,643 shares of the investment management company’s stock worth $4,929,000 after purchasing an additional 53,124 shares during the last quarter. Byrne Asset Management LLC acquired a new stake in BlackRock Floating Rate Income Trust in the 4th quarter worth $1,076,000. Absolute Investment Advisers LLC acquired a new stake in BlackRock Floating Rate Income Trust in the 4th quarter worth $2,276,000. Wolverine Asset Management LLC acquired a new stake in BlackRock Floating Rate Income Trust in the 4th quarter worth $1,337,000. Finally, Shaker Financial Services LLC acquired a new stake in BlackRock Floating Rate Income Trust in the 4th quarter worth $565,000.

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.