BlackRock Floating Rate Income Trust (NYSE:BGT) Stock Crosses Below 50 Day Moving Average – Here’s Why

BlackRock Floating Rate Income Trust (NYSE:BGT) shares passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $11.44 and traded as low as $11.31. BlackRock Floating Rate Income Trust shares last traded at $11.3250, with a volume of 248,831 shares changing hands.

BlackRock Floating Rate Income Trust Trading Down 0.0%

The business has a fifty day moving average price of $11.44 and a 200 day moving average price of $12.04.

BlackRock Floating Rate Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be paid a dividend of $0.1203 per share. This represents a c) annualized dividend and a yield of 12.7%. The ex-dividend date is Monday, December 22nd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. lifted its stake in shares of BlackRock Floating Rate Income Trust by 6.2% in the second quarter. Rockefeller Capital Management L.P. now owns 17,209 shares of the investment management company’s stock valued at $215,000 after buying an additional 1,009 shares during the period. Invesco Ltd. raised its holdings in BlackRock Floating Rate Income Trust by 0.4% in the 3rd quarter. Invesco Ltd. now owns 347,858 shares of the investment management company’s stock valued at $4,226,000 after acquiring an additional 1,517 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of BlackRock Floating Rate Income Trust by 5.5% in the 3rd quarter. Global Retirement Partners LLC now owns 32,593 shares of the investment management company’s stock worth $396,000 after acquiring an additional 1,696 shares during the period. Atlantic Union Bankshares Corp bought a new stake in shares of BlackRock Floating Rate Income Trust in the 3rd quarter worth approximately $26,000. Finally, Osaic Holdings Inc. grew its holdings in shares of BlackRock Floating Rate Income Trust by 5.7% during the 2nd quarter. Osaic Holdings Inc. now owns 58,029 shares of the investment management company’s stock worth $727,000 after purchasing an additional 3,140 shares in the last quarter.

BlackRock Floating Rate Income Trust Company Profile

BlackRock Floating Rate Income Trust (NYSE: BGT) is a diversified, closed-end management investment company that seeks to generate current income by investing in floating rate debt instruments. Established and managed by BlackRock Advisors, the trust provides investors with exposure to senior secured loans, high-yield corporate debt, collateralized loan obligations (CLOs) and other floating rate credit products. By focusing on floating rate securities, the fund aims to offer protection against rising interest rates while pursuing consistent income generation.

The trust’s portfolio is constructed through an active, research-driven process led by a team of credit specialists within BlackRock’s Global Credit platform.