BlackRock Floating Rate Income Trust (NYSE:BGT) Stock Passes Below 200-Day Moving Average – Time to Sell?

BlackRock Floating Rate Income Trust (NYSE:BGT)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.12 and traded as low as $10.74. BlackRock Floating Rate Income Trust shares last traded at $10.7510, with a volume of 91,159 shares traded.

BlackRock Floating Rate Income Trust Price Performance

The firm has a 50-day moving average price of $10.86 and a 200-day moving average price of $11.12.

Institutional Trading of BlackRock Floating Rate Income Trust

Several hedge funds and other institutional investors have recently made changes to their positions in BGT. Penserra Capital Management LLC purchased a new stake in shares of BlackRock Floating Rate Income Trust in the 3rd quarter worth approximately $9,057,000. Readystate Asset Management LP purchased a new position in shares of BlackRock Floating Rate Income Trust in the 4th quarter worth $5,003,000. Cerity Partners LLC purchased a new position in shares of BlackRock Floating Rate Income Trust in the 4th quarter worth $2,483,000. Absolute Investment Advisers LLC purchased a new position in shares of BlackRock Floating Rate Income Trust in the 4th quarter worth $2,276,000. Finally, Balyasny Asset Management L.P. boosted its stake in shares of BlackRock Floating Rate Income Trust by 942.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 211,230 shares of the investment management company’s stock worth $2,393,000 after buying an additional 190,971 shares during 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.