BlackRock Floating Rate Income Trust (NYSE:BGT) Shares Pass Below 200 Day Moving Average – Here’s Why

BlackRock Floating Rate Income Trust (NYSE:BGT) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.15 and traded as low as $10.81. BlackRock Floating Rate Income Trust shares last traded at $10.8350, with a volume of 56,224 shares.

BlackRock Floating Rate Income Trust Trading Down 0.0%

The stock has a 50-day moving average price of $10.85 and a 200 day moving average price of $11.15.

BlackRock Floating Rate Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.1203 per share. The ex-dividend date is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 13.3%.

Institutional Trading of BlackRock Floating Rate Income Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Arkadios Wealth Advisors acquired a new stake in shares of BlackRock Floating Rate Income Trust during the first quarter worth about $141,000. Icon Advisers Inc. Co. increased its position in shares of BlackRock Floating Rate Income Trust by 24.7% during the first quarter. Icon Advisers Inc. Co. now owns 103,027 shares of the investment management company’s stock worth $1,109,000 after purchasing an additional 20,409 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of BlackRock Floating Rate Income Trust during the first quarter worth about $60,000. Private Advisor Group LLC increased its position in shares of BlackRock Floating Rate Income Trust by 7.0% during the first quarter. Private Advisor Group LLC now owns 21,731 shares of the investment management company’s stock worth $234,000 after purchasing an additional 1,423 shares in the last quarter. Finally, Absolute Investment Advisers LLC increased its position in shares of BlackRock Floating Rate Income Trust by 32.2% during the first quarter. Absolute Investment Advisers LLC now owns 262,400 shares of the investment management company’s stock worth $2,823,000 after purchasing an additional 63,974 shares in the last quarter.

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.