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

BlackRock Floating Rate Income Trust (NYSE:BGT) shares passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $10.76 and traded as low as $10.64. BlackRock Floating Rate Income Trust shares last traded at $10.6850, with a volume of 165,625 shares traded.

BlackRock Floating Rate Income Trust Stock Down 0.0%

The business’s fifty day simple moving average is $10.76 and its 200 day simple moving average is $11.00.

BlackRock Floating Rate Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $0.1203 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 13.5%.

Institutional Investors Weigh In On BlackRock Floating Rate Income Trust

Several institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings in BlackRock Floating Rate Income Trust by 12.0% in the first quarter. Royal Bank of Canada now owns 46,577 shares of the investment management company’s stock worth $578,000 after acquiring an additional 4,997 shares during the last quarter. Cetera Investment Advisers acquired a new stake in shares of BlackRock Floating Rate Income Trust during the 2nd quarter worth approximately $232,000. Baird Financial Group Inc. raised its position in shares of BlackRock Floating Rate Income Trust by 33.2% during the 2nd quarter. Baird Financial Group Inc. now owns 160,791 shares of the investment management company’s stock worth $2,013,000 after purchasing an additional 40,096 shares during the period. Ausdal Financial Partners Inc. bought a new stake in shares of BlackRock Floating Rate Income Trust in the 2nd quarter worth approximately $150,000. Finally, Jane Street Group LLC bought a new stake in shares of BlackRock Floating Rate Income Trust in the 2nd quarter worth approximately $138,000.

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.