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

BlackRock Floating Rate Income Trust (NYSE:BGT) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 53,100 shares, a decline of 20.7% from the February 28th total of 67,000 shares. Based on an average daily volume of 150,900 shares, the days-to-cover ratio is presently 0.4 days.

Hedge Funds Weigh In On BlackRock Floating Rate Income Trust

A number of institutional investors have recently bought and sold shares of BGT. Guggenheim Capital LLC boosted its stake in BlackRock Floating Rate Income Trust by 38.7% in the 4th quarter. Guggenheim Capital LLC now owns 981,677 shares of the investment management company’s stock worth $12,624,000 after purchasing an additional 273,835 shares during the period. LPL Financial LLC lifted its stake in BlackRock Floating Rate Income Trust by 19.3% in the 4th quarter. LPL Financial LLC now owns 486,324 shares of the investment management company’s stock worth $6,254,000 after purchasing an additional 78,573 shares in the last quarter. Graypoint LLC boosted its holdings in shares of BlackRock Floating Rate Income Trust by 2.8% during the 4th quarter. Graypoint LLC now owns 194,738 shares of the investment management company’s stock valued at $2,504,000 after purchasing an additional 5,320 shares during the last quarter. MML Investors Services LLC grew its position in shares of BlackRock Floating Rate Income Trust by 1.7% during the fourth quarter. MML Investors Services LLC now owns 98,517 shares of the investment management company’s stock valued at $1,267,000 after purchasing an additional 1,626 shares in the last quarter. Finally, Virtus ETF Advisers LLC increased its holdings in shares of BlackRock Floating Rate Income Trust by 17.2% in the fourth quarter. Virtus ETF Advisers LLC now owns 57,814 shares of the investment management company’s stock worth $743,000 after purchasing an additional 8,485 shares during the last quarter.

BlackRock Floating Rate Income Trust Price Performance

Shares of NYSE:BGT traded down $0.02 during trading on Tuesday, hitting $12.40. The company’s stock had a trading volume of 72,872 shares, compared to its average volume of 116,539. The company has a 50-day moving average of $12.60 and a 200-day moving average of $12.83. BlackRock Floating Rate Income Trust has a 12 month low of $12.05 and a 12 month high of $13.97.

BlackRock Floating Rate Income Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.1203 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.64%. The ex-dividend date of this dividend was Friday, March 14th.

About BlackRock Floating Rate Income Trust

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.