Short Interest in BlackRock Floating Rate Income Trust (NYSE:BGT) Declines By 81.2%

BlackRock Floating Rate Income Trust (NYSE:BGT) was the target of a large drop in short interest in the month of March. As of March 13th, there was short interest totalling 7,400 shares, a drop of 81.2% from the February 27th total of 39,400 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 90,800 shares, the short-interest ratio is presently 0.1 days.

NYSE:BGT traded up $0.22 during mid-day trading on Thursday, hitting $9.23. 239,860 shares of the company’s stock were exchanged, compared to its average volume of 112,293. The company has a 50 day simple moving average of $11.65 and a 200-day simple moving average of $12.36. BlackRock Floating Rate Income Trust has a fifty-two week low of $7.20 and a fifty-two week high of $13.30.

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a dividend of $0.076 per share. The ex-dividend date is Friday, March 13th. This represents a $0.91 annualized dividend and a yield of 9.88%.

A number of large investors have recently bought and sold shares of BGT. Saba Capital Management L.P. raised its holdings in BlackRock Floating Rate Income Trust by 0.5% during the 3rd quarter. Saba Capital Management L.P. now owns 698,954 shares of the investment management company’s stock worth $8,576,000 after purchasing an additional 3,604 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in BlackRock Floating Rate Income Trust by 10.9% during the 4th quarter. Advisors Asset Management Inc. now owns 352,395 shares of the investment management company’s stock worth $4,535,000 after purchasing an additional 34,765 shares during the last quarter. Bank of America Corp DE raised its holdings in BlackRock Floating Rate Income Trust by 5.4% during the 4th quarter. Bank of America Corp DE now owns 264,397 shares of the investment management company’s stock worth $3,403,000 after purchasing an additional 13,601 shares during the last quarter. Chapwood Capital Investment Management LLC bought a new position in BlackRock Floating Rate Income Trust during the 4th quarter worth approximately $3,377,000. Finally, UBS Group AG raised its holdings in BlackRock Floating Rate Income Trust by 28.6% during the 4th quarter. UBS Group AG now owns 231,395 shares of the investment management company’s stock worth $2,978,000 after purchasing an additional 51,458 shares during the last quarter.

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.

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