BlackRock Floating Rate Income Trust (NYSE:BGT) Sees Large Growth in Short Interest

BlackRock Floating Rate Income Trust (NYSE:BGT) was the recipient of a large growth in short interest in 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 daily volume of 96,900 shares, the days-to-cover ratio is currently 1.1 days.

BlackRock Floating Rate Income Trust Price Performance

Shares of NYSE BGT traded up $0.12 during midday trading on Friday, reaching $13.04. The company’s stock had a trading volume of 67,512 shares, compared to its average volume of 103,175. The stock has a 50 day simple moving average of $12.95 and a 200-day simple moving average of $12.96. BlackRock Floating Rate Income Trust has a fifty-two week low of $11.77 and a fifty-two week high of $13.97.

BlackRock Floating Rate Income Trust Announces Dividend

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

Institutional Investors Weigh In On BlackRock Floating Rate Income Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in BGT. Private Advisor Group LLC acquired a new stake in shares of BlackRock Floating Rate Income Trust in the third quarter valued at about $152,000. Avantax Advisory Services Inc. grew its stake in BlackRock Floating Rate Income Trust by 12.7% in the first quarter. Avantax Advisory Services Inc. now owns 18,735 shares of the investment management company’s stock valued at $243,000 after purchasing an additional 2,112 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its position in shares of BlackRock Floating Rate Income Trust by 56.0% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 19,778 shares of the investment management company’s stock worth $256,000 after purchasing an additional 7,100 shares during the last quarter. MONECO Advisors LLC raised its stake 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 in the last quarter. Finally, MML Investors Services LLC boosted its holdings in shares of BlackRock Floating Rate Income Trust by 2.7% in the 3rd quarter. MML Investors Services LLC now owns 96,891 shares of the investment management company’s stock valued at $1,254,000 after buying an additional 2,531 shares during the last quarter.

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.