BlackRock Floating Rate Income Trust (NYSE:BGT) Sees Significant Increase in Short Interest

BlackRock Floating Rate Income Trust (NYSE:BGT) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 102,100 shares, a growth of 25.6% from the October 15th total of 81,300 shares. Based on an average trading volume of 96,900 shares, the days-to-cover ratio is currently 1.1 days.

BlackRock Floating Rate Income Trust Trading Up 0.9 %

Shares of BGT stock traded up $0.12 on Friday, hitting $13.04. 67,512 shares of the stock traded hands, compared to its average volume of 103,175. BlackRock Floating Rate Income Trust has a twelve month low of $11.77 and a twelve month high of $13.97. The firm’s 50-day moving average price is $12.95 and its two-hundred day moving average price is $12.96.

BlackRock Floating Rate Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.1203 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.07%.

Institutional Investors Weigh In On BlackRock Floating Rate Income Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Penserra Capital Management LLC purchased a new stake in BlackRock Floating Rate Income Trust in the 3rd quarter valued at about $8,284,000. Advisors Asset Management Inc. raised its stake in shares of BlackRock Floating Rate Income Trust by 6.4% in the 1st quarter. Advisors Asset Management Inc. now owns 422,855 shares of the investment management company’s stock valued at $5,489,000 after acquiring an additional 25,614 shares during the period. Graypoint LLC raised its stake in shares of BlackRock Floating Rate Income Trust by 2.8% in the 3rd quarter. Graypoint LLC now owns 189,418 shares of the investment management company’s stock valued at $2,451,000 after acquiring an additional 5,206 shares during the period. MML Investors Services LLC boosted its position in shares of BlackRock Floating Rate Income Trust by 2.7% during the 3rd quarter. MML Investors Services LLC now owns 96,891 shares of the investment management company’s stock worth $1,254,000 after purchasing an additional 2,531 shares during the period. Finally, MONECO Advisors LLC boosted its position in shares of BlackRock Floating Rate Income Trust by 5.0% during the 3rd quarter. MONECO Advisors LLC now owns 24,377 shares of the investment management company’s stock worth $315,000 after purchasing an additional 1,150 shares during the period.

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.