BlackRock Floating Rate Income Trust (NYSE:BGT) Short Interest Update

BlackRock Floating Rate Income Trust (NYSE:BGT) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 80,000 shares, an increase of 14.9% from the August 15th total of 69,600 shares. Based on an average trading volume of 91,000 shares, the short-interest ratio is currently 0.9 days.

Institutional Trading of BlackRock Floating Rate Income Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates lifted its stake in shares of BlackRock Floating Rate Income Trust by 48.1% in the 1st quarter. Raymond James & Associates now owns 32,000 shares of the investment management company’s stock valued at $408,000 after purchasing an additional 10,400 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in BlackRock Floating Rate Income Trust by 10.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 28,705 shares of the investment management company’s stock worth $366,000 after acquiring an additional 2,817 shares during the last quarter. Private Advisor Group LLC acquired a new position in BlackRock Floating Rate Income Trust during the first quarter valued at approximately $149,000. UBS Group AG increased its stake in BlackRock Floating Rate Income Trust by 16.5% in the first quarter. UBS Group AG now owns 361,948 shares of the investment management company’s stock valued at $4,614,000 after purchasing an additional 51,296 shares in the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new stake in BlackRock Floating Rate Income Trust in the first quarter worth $252,000.

BlackRock Floating Rate Income Trust Price Performance

Shares of BGT stock traded up $0.06 during trading hours on Tuesday, reaching $12.05. 49,268 shares of the company were exchanged, compared to its average volume of 87,466. The stock’s fifty day moving average is $11.88 and its two-hundred day moving average is $11.50. BlackRock Floating Rate Income Trust has a fifty-two week low of $10.56 and a fifty-two week high of $12.32.

BlackRock Floating Rate Income Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.114 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 11.35%. This is an increase from BlackRock Floating Rate Income Trust’s previous monthly dividend of $0.11.

BlackRock Floating Rate Income Trust Company Profile

BlackRock Floating Rate Income Trust is a close ended fixed income mutual fund launched by BlackRoack Inc The fund is co-managed by BlackRock Advisors, LLC and BlackRock Financial Management, Inc It invests in the fixed income markets across the globe while focusing on the United States. The fund invests in bonds of companies operating across diversified sectors.