Byrne Asset Management LLC Invests $1.08 Million in BlackRock Floating Rate Income Trust $BGT

Byrne Asset Management LLC purchased a new position in shares of BlackRock Floating Rate Income Trust (NYSE:BGT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 95,000 shares of the investment management company’s stock, valued at approximately $1,076,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BGT. Donoghue Forlines LLC purchased a new stake in BlackRock Floating Rate Income Trust in the 3rd quarter worth approximately $11,418,000. Penserra Capital Management LLC acquired a new stake in shares of BlackRock Floating Rate Income Trust during the 3rd quarter valued at $9,057,000. Guggenheim Capital LLC grew its holdings in shares of BlackRock Floating Rate Income Trust by 15.7% during the 2nd quarter. Guggenheim Capital LLC now owns 1,374,019 shares of the investment management company’s stock valued at $17,203,000 after acquiring an additional 186,748 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of BlackRock Floating Rate Income Trust by 25.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 510,947 shares of the investment management company’s stock valued at $6,208,000 after acquiring an additional 102,959 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of BlackRock Floating Rate Income Trust by 15.1% in the third quarter. Advisors Asset Management Inc. now owns 405,643 shares of the investment management company’s stock worth $4,929,000 after acquiring an additional 53,124 shares during the last quarter.

BlackRock Floating Rate Income Trust Price Performance

BGT opened at $10.75 on Thursday. The stock has a fifty day moving average price of $11.16 and a 200 day moving average price of $11.50. BlackRock Floating Rate Income Trust has a 1 year low of $10.21 and a 1 year high of $12.76.

BlackRock Floating Rate Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.1203 per share. This represents a c) annualized dividend and a dividend yield of 13.4%. The ex-dividend date is Monday, June 15th.

About BlackRock Floating Rate Income Trust

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.